This is an unexpected news just announced by Louis Gallois. On the occasion of thegeneral meeting PSA, which he chairs the supervisory board, the former boss of Airbus announced that he would leave his post in 2020 if he was re-elected on Tuesday.
Louis Gallois, 74 years old, says he will use the next two years to “prepare for the transition”. He will leave the company at the 2020 general meeting.
End of a tandem
At the beginning of March, however, the French automaker showed its intentions not to change a winning team. It intended to propose to its shareholders to renew the tandem Welsh-Tavares.
Because the duo seems to have worked well. PSA presented this Tuesday a turnover up 42.1% to 18.2 billion euros for the first quarter, boosted by the integration of Opel Vauxhall. The year 2017 was “exceptional” for the group. Buoyed by its good sales in Europe, the French car manufacturer saw its operating margin grow 0.1 point to 6.1%, for a turnover up more than 20%, to 65 billion euros.