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Peugeot

January 27, 2017

NY prosecutor drops charges against Fiat heir Lapo Elkann; PZ Cussons reports huge first-half profits drop; and French carmaker Peugeot returns to India after two decades

NY prosecutor drops charges against Fiat heir Lapo Elkann

 

New York prosecutors have dropped charges against Lapo Elkann, one of the heirs to Italian industrial dynasty Fiat Chrysler, who has been accused of concocting a fake abduction scheme in an effort to get ransom money.

 

October 10, 2013

Paul Desmarais, the patriarch of Canadian family empire Power Corp and one of the country’s wealthiest individuals, has died, aged 86.

Paul Desmarais, the patriarch of Canadian family empire Power Corp and one of the country’s wealthiest individuals, has died, aged 86.

A self-made billionaire, Desmarais, took control of the Montreal-based hydroelectric company in 1968, serving as chairman and chief executive for almost three decades, before his two sons took over.

July 25, 2012

Global economic difficulties continued to exert pressure on a number of family businesses, with ArcelorMittal, Peugeot and Ford all reporting falls in revenues this week.

Global economic difficulties continued to exert pressure on a number of family businesses, with ArcelorMittal, Peugeot and Ford all reporting falls in revenues this week.

French carmaker and Europe’s second biggest automotive company Peugeot reported on 25 July a 5.1% decrease in its half-yearly results, down from €31.135 billion during the first six months of 2011 to €29.6 billion in 2012. Its automotive division reported a loss of €660 million, down 10%.

March 1, 2012

French carmaker Peugeot has confirmed its alliance with General Motors, in a move that could see the founding Peugeot family reduce its control of the family business.

French carmaker Peugeot has confirmed its alliance with General Motors, in a move that could see the founding Peugeot family reduce its control of the family business.

After weeks of speculation, Peugeot said in a statement that it has teamed up with GM to “contribute to the profitability of both partners” and consolidate its presence in the European market.

September 13, 2010

Family-controlled automobile group PSA Peugeot Citroën has announced it is to repay €1 billion of the €3 billion loan it received from the French government last year.

Family-controlled automobile group PSA Peugeot Citroën has announced it is to repay €1 billion of the €3 billion loan it received from the French government last year.

The early repayment will be made out of existing liquidity resources and allow the Paris-based group to reduce gross debt and to save on interest payments, according to a statement.

April 30, 2010

Family business brands are racing into the top ranks of the best global brands. According to the Interbrand Global Brands 2009, 26 of the top 100 were family businesses, of which 20 had moved up in the rankings from the previous year

Family business brands are racing into the top ranks of the best global brands. According to the Interbrand Global Brands 2009, 26 of the top 100 were family businesses, of which 20 had moved up in the rankings from the previous year. Four (Toyota, BMW, Louis Vuitton Moet Hennessey and Samsung) were in the top 20.

June 22, 2009

Peugeot Citroën’s new non-family CEO has the backing of the Peugeot family to forge alliances in an attempt to combat the challenges facing the motor industry.

Peugeot Citroën's new non-family CEO has the backing of the Peugeot family to forge alliances in an attempt to combat the challenges facing the motor industry. 

March 30, 2009

The non-family CEO of PSA Peugeot Citroën has paid the price for the company’s poor performance after being sacked yesterday.

The non-family CEO of PSA Peugeot Citroën has paid the price for the company's poor performance after being sacked yesterday. Christian Streiff's contract was terminated by the France-based company's supervisory board, which is chaired by Thierry Peugeot.

Strieff, who took over the family-controlled organisation in February 2007, will be replaced by Philippe Varin on 1 June. Until then, Roland Vardanega, a member of the managing board, will act as interim Chairman.

March 19, 2009

The reporting season is upon us, and the news emerging from the world’s family-owned car makers is grim. BMW recently reported a full-year loss of €718 million, PSA PeugeotCitroen announced a net loss of €343 million while Ford reported a loss of $14.6 billion.

The reporting season is upon us, and the news emerging from the world's family-owned car makers is grim writes Jane Simms. BMW recently reported a full-year loss before tax and interest of €718 million, much worse than the market had predicted. PSA PeugeotCitroen announced a net loss of €343 million and has been forced to accept a government bailout.

Ford reported a loss of $14.6 billion last year, the biggest in its 105-year history. Even Toyota is expected to announce its first net loss in six decades when it reports on its financial year ending 31st March.

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