Ousted Renault exec named new Peugeot CEO

France’s Peugeot-Citroën has confirmed ex-Renault Chief Operating Officer (COO) Carlos Tavares will join its board of management next January in order to assist CEO Philippe Varin in the last few months of his career in the auto industry. Tavares will take over as CEO late next year when 61-year old Varin retires.

When he becomes CEO, 55-year old Tavares will face the Herculean task of expanding Peugeot-Citroën’s operations outside of the depressed European market in order return it to profitability. The automaker is in dire need of cash and it is mulling a controversial alliance with China’s Dongfeng in order to stay afloat. PSA’s existing alliance with General Motors is crumbling, and the French government stands ready to bail out the ailing automaker as a last resort in an effort to preserve jobs.

Renault-Nissan CEO Carlos Ghosn, Tavares’ boss for years, has not openly commented on the matter but reports circulating around the French media indicate Tavares has silently promised not recruit any of his former Renault colleagues at Peugeot.
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