Pierre Peugeot, chairman of the supervisory board of French manufacturer PSA Peugeot-Citroën, has died at the age of 70.
Pierre Peugeot, chairman of the supervisory board of French manufacturer PSA Peugeot-Citroën, has died at the age of 70.
Peugeot joined the family business in 1957, playing a big role in a post- war expansion that included the takeover of rival Citroën in the 1970s. He was a member of the company’s board of directors from 1972 to 1988, during which time he helped shape the group’s strategy and expand sales, the company said. He had been chairman of the supervisory board since 1988.
Peugeot had been ill for some time.
The manufacturer is 28 per cent owned by the Peugeot family. Peugeot was the great grand-nephew of the man who founded the car company. That man, Armand Peugeot, was adjudged the joint-winner of what was considered to have been the first automotive race in 1894 and PSA is today one of the 40 companies listed on the Paris stock exchange’s top share index.
The supervisory board will meet shortly to choose a new chairman and deputy Jean Boillot will stand in for the time being, the company said.