Peugeot Hires Ex-Renault COO Tavares to Lead Automaker
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PSA Peugeot Citroen hired former Renault SA executive Carlos Tavares to lead the French manufacturer out of a six-year slump in European demand that has sapped the finances of the region’s second-biggest carmaker.
Tavares, 55, will replace Philippe Varin, the 61-year-old current chief executive officer, in 2014, the Paris-based manufacturer said in a statement today. Tavares will join the management board on Jan. 1 and take over as CEO later in the year, Peugeot said, without specifying the date.