Keyword: Philippe Varin

How the Peugeot family lost control of its car business


Earlier this week the French state and Chinese car maker Dongfeng agreed to take major stakes in the French car manufacturer PSA Peugeot Citroën. It marks the end of an era; from now on the Peugeot family are no longer the dominant voice in a company they have run since the days of the first steam-powered cars at the end of the 19th century. For many observers it was the inevitable outcome for a family that was torn in different directions and for a car manufacturer that had been left trailing in the slipstream of its main rivals. Martine Orange reports on how one of France's best-known families lost control of its own company.

Related keywords

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

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