Reuters reports this morning Jean-Martin Folz, the CEO of Frenchie carmaker PSA/Peugeot-Citroen will get his gold watch this January, as the automakers announced that the soon-to-be-60 Chairman'll be leaving after almost 10 years in the role. Although the press release claims he's leaving because of his upcoming sexagenarian status, auto analyst Patrice Solaro with Kepler Equities has a differing opinion on that bit of Paris-branded PR:
"it's a very elegant way to present it but in the end I believe there was a clash over strategy and he had to go...PSA was about to present a restructuring plan, which as far as I know was as good as finished, but I think the (Peugeot) family wanted to go further than that and believed they needed a fresh figure head to take the company forward."
Wait, so now Peugeot needs someone to take them on its own "Way Forward?" Hmm — wethinks there may be some folks over in Dearborn who may be looking for work soon.
Peugeot Chairman Jean-Martin Folz to retire in January [Reuters]
Related:
Peugeot Citroen Announces Diesel Hybrids [internal]