France Adds Former EADS Chief to PSA Board

PSA Peugeot Citroen has approved Louis Gallois, former CEO of European Aeronautic, Defence & Space Co., as the French government's representative on its board. He will become a director in April, pending shareholder approval.

France and PSA's union coalition each won the right to a board seat as part of the government's agreement in October to guarantee as much as €7 billion of loans to the carmaker's finance arm Banque PSA Financial.

Gallois, who headed Airbus maker EADS from 2006 until May, published a government-commissioned report last month about France's business competitiveness.