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Peugeot

Peugeot appoints first non-family chairman

March 24, 2014

French family firm PSA Peugeot Citroen has appointed its first non-family chairman, following the announcement of its recapitalisation last month, but there could be future family-member leaders waiting in the wings, according to a business and corporate governance expert based in France.

Last week, the carmaking firm confirmed French civil servant Louis Gallois would be its new chairman, and the family’s board presence would halve to two voting members, due to the family diluting its share in the family business.

Peugeot Citroen deal shows French families need to think global, says business expert

February 21, 2014

The recapitalisation of French family business PSA Peugeot Citroen sends a message to other family firms that they need to join forces with foreigners to survive in the modern world, says a business and corporate governance expert based in France.

This week the Peugeot family announced it was diluting its shares in the carmaker, France’s largest family business, from its existing 25% holding and 38% voting rights.

French government criticises Peugeot family over ailing carmaker

September 12, 2012

The French government has criticised the family behind carmaker Peugeot Citroen over its stewardship of the struggling family business.

In a report, released in response to Peugeot’s planned job cuts, Emmanuel Sartorius, a senior civil servant in the finance ministry, seemed to suggest that Peugeot had at times put the family’s financial interests ahead of the company.

Peugeot family loosens control of carmaker

March 6, 2012

The Peugeot family will give up one-fifth of its voting stake in Peugeot Citroen to fund the French carmaker’s alliance with General Motors, but it will still remain the company’s largest shareholder.

That’s according to a statement issued on 6 March by the Paris-based group, which gave details of the agreement with GM.

In the statement, Peugeot, headed by family member Thierry Peugeot, said it wants to raise €1 billion by issuing new shares between 8 and 21 March.

Peugeot family confirms alliance with GM

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.

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.

Peugeot reportedly in talks with GM – but will the family dilute its stake?

February 29, 2012

French carmaker Peugeot Citroen is reportedly planning to raise around €1 billion through a share rights issue, but whether this would dilute the Peugeot family’s stake in the business is not yet known.

According to reports by the financial media, General Motors, which is the world’s largest automobile-maker, will buy a 7% stake in Peugeot as part of the share sale.