Peugeot family backs state candidate for chairman: paper
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[March 13, 2014]
PARIS (Reuters) — French civil servant
Louis Gallois is set to become chairman of French carmaker PSA
Peugeot Citroen <PEUP.PA> after the founding Peugeot family was
persuaded by the government to support his nomination, Le Figaro
reported on Wednesday.
Gallois, France's investment commissioner and a former head of the
SNCF state railway as well as defense group EADS <EAD.PA>, has been
backed by ministers to take over from outgoing Chairman Thierry
The Peugeot clan, ceding control of the carmaker in a 3 billion euro
($4.2 billion) share issue that will see the government and China's
Dongfeng <0489.HK> take 14 percent stakes to match its own diluted
holding, had previously backed former Nexans <NEXS.PA> boss Gerard
But the family has now agreed to back Gallois following meetings
with Finance Minister Pierre Moscovici and Emmanuel Macron, senior
adviser to President Francois Hollande, daily Le Figaro said in its
report, which did not identify sources.
A Peugeot spokesman declined to comment.
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Gallois has already served as a Peugeot board member since late
2012, when his appointment as a nominal independent was imposed on
the company by the Hollande government in return for 7 billion euros
in state loan guarantees.
($1 = 0.7192 euros)
(Reporting by Laurence Frost; editing by
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