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 Tavares, the former second in command at rival Renault <RENA.PA>,
joined the loss-making French carmaker as CEO-in-waiting on January
1.
Peugeot, which is in talks on a capital injection from the French
government and China's Dongfeng Motor Co. <0489.HK>, had previously
only said that he would take over from current boss Philippe Varin
sometime this year.
"Some observers had thought Tavares could take over by February 19
when Peugeot announces its annual results. That was the plan ... but
Philippe Varin wants to remain in his post until the Chinese
president visits France in March," said one of the sources.
"Given that Varin played an important role in the Dongfeng deal, it
is completely possible that the replacement can wait until March,"
the source said.
A spokesman for Peugeot declined to comment.
Peugeot Chairman Thierry Peugeot told Le Figaro newspaper in an
interview published on Saturday that the board would soon decide on
the official date of the CEO transition.
Peugeot's board has agreed in principle to a capital increase that
would see the Chinese state-owned carmaker and French government
acquire minority stakes and the founding family cede control,
sources familiar with the matter said on Monday.
The company is looking to raise 3 billion euros ($4.1 billion) in a
deal with Dongfeng, after unveiling a further 4.9 percent decline in
global vehicle deliveries for 2013.
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Peugeot has said it needs fresh funding to stay competitive amid
slumping car sales in its core European market and is also seeking
to deepen its relationship with Dongfeng, with whom it already has a
joint venture.
The two carmakers have been in discussions for months to extend
cooperation to other Asian countries, backed by a multi-billion-euro
share issue in which Dongfeng and the French government would
acquire significant stakes.
China's Xi Jinping is expected to make his first trip as president
to Europe in March, to meet the country's most important export
partners after a year of trade tensions, EU diplomats have said.
(Reporting by Gilles Guillaume; writing
by Leila Abboud; editing by Pravin Char)
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