PSA Hires Carlos Tavares as President of the Management Board

Well that certainly did not take long. After rumors began that former RenaultRenaultFrance, 1898 > present189 models
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, PSA took the first step today by announcing that Tavares would become the President of the Managing Board at PSA in 2014 and replace current PSA President and CEO Philippe Varin.

Tavares will join the Managing Board on January 1 and be elected President later in 2014.

Varin will remain as PSA CEO through the end of his contract when PSA is expected to promote Tavares to the position. Varin’s career in the auto industry is coming to an end, and he requested a new person be found to take PSA into the future.

"By choosing Carlos Tavares, renowned automotive industry professional, to succeed Philippe Varin in 2014, the Supervisory Board ensures that the strategy of recovery and development to overcome the current crisis, a strategy that has been carried out for several years, will continue to be executed over the long term," said Thierry Peugeot, President of the PSA Supervisory Board.

Varin became PSA President in June 2009. His main project at the moment is negotiating a deal with Chinese joint venture partner Dongfeng to buy a portion of the company.

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