Peugeot Family Elevates Millennial Son to Helm Investment Firm
- Edouard Peugeot to replace father Robert at investment firm
- Peugeot Invest chairman switch will take place next year
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The billionaire Peugeot family is taking a major step in its long-anticipated succession plan with a decision to elevate a ninth-generation heir to the helm of its embattled investment firm.
Edouard Peugeot, 40, will replace his father Robert, 74, as chairman of Peugeot Invest at the annual shareholders’ meeting in May 2025, according to a statement. The company’s shares dropped 1.8% in Paris on Thursday, taking the year-to-date decline to 31%.