Deals

Peugeot's Turnaround Guru Tells Industry He's Open for Deals

French carmaker’s chief is looking for expansion opportunities
‘If we don’t move, then we die,’ CEO Carlos Tavares says

Tavares says Peugeot wants to expand in the U.S., India and Russia.(Source: Bloomberg)

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By Ania Nussbaum

March 5, 2019 at 10:23 AM UTC

Updated on

March 5, 2019 at 2:45 PM UTC

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Among the scores of auto executives descending on Geneva for the annual car show this week, Carlos Tavares stands out with a blunt message: adapt or perish.

For the 60-year-old chief executive officer of Peugeot owner PSA Group, that means seizing opportunities for growth. Tavares is meeting with advisers with a goal of finding a partner for PSA that will transform the French automaker into a global force, Bloomberg News reported on Monday. Such a deal -- whether a merger or an alliance -- could vault PSA into the ranks of the world’s biggest carmakers and make Tavares a dealmaking titan akin to Carlos Ghosn and Sergio Marchionne.