PSA’s Varin Named President of ACEA

PSA Peugeot Citroen CEO Philippe Varin has been elected president of auto industry group ACEA, effective Jan. 1.

ACEA has been headed by Fiat-Chrysler CEO Sergio Marchionne for the past two years. The association says Varin will lead the group until he leaves PSA sometime next year.

Last month PSA hired former Renault COO Carlos Tavares as Varin's heir apparent.