PSA/Peugeot-Citroen incoming CEO Philippe Varin (left) and chairman Thierry Peugeot (right)
Christian Streiff, CEO of PSA Peuget/Citroen since early 2007, has been pushed out by Peugeot's board, controlled by members of the Peugeot family. Streiff took the position after a short, turbulent stint as CEO of Airbus, and his time at Peugeot wasn't much more relaxing. Upon taking the position he stirred things up, changing how models were developed and manufactured. The company earned profits of €885 million in 2007, and while Streiff was controversial to some, he was safe.
Following the approach taken by rival Renault, PSA/Peugeot-Citroen is working on an entry-level car set to debut in emerging markets in 2011. The Renault Logan has done well in Russia and Romania, which has prodded this interest and action from PSA. The new five-passenger vehicle will be assembled in Turkey or Poland and sold in eastern and central Europe, Russia, Turkey, and North Africa wearing both Citroen and Peugeot badging. If successful, sales would also expand to include China and South