Peugeot-Citroën chief executive renounces 21M-euro pension deal

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Outgoing PSA chief Philippe Varin said he would forego the huge pension package which caused an outcry as the firm cuts 10,000 jobs.

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The outgoing chief executive of French carmaker PSA Peugeot-Citroen said he would forego his pension package after an outcry from government ministers and labour unions, reports Reuters.