French manufacturer PSA Peugeot-Citroën has appointed Thierry Peugeot to replace his father, Pierre Peugeot, as chairman of the firm’s supervisory board.
Thierry Peugeot, 45, has been director of services and spare parts for Peugeot’s Citroen arm, and was a member of Peugeot’s committee of vice presidents.
Peugeot is the oldest son of Pierre Peugeot, who died on December 1 at the age of 70. Peugeot Snr 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.
PSA 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.
