Two PSA Executives Step Down in Shakeup

PSA Peugeot Citroen has dropped its brand and R&D chiefs from its management board, thus reducing that committee to four members, effective April 2.

PSA says the leaner board will streamline efforts to turn around the company's operations and stem losses.

Frederic Saint Geours is stepping down as executive vice president for brands, and his position will be eliminated. Saint Geours will remain as a special adviser to Chairman Philippe Varin. The heads of the Citroen and Peugeot brands will report to Varin.

Guillaume Faury, executive vice president for R&D, is leaving PSA to return to the helicopter unit of aerospace company EADS as its CEO. Faury will be replaced by Gilles Le Borgne, who oversaw engineering of the carmaker's new midsize vehicle architecture.

Varin has assigned additional duties to the three executives who remain on the management board with him.

CFO Jean-Baptiste de Chatillon is responsible for restoring profitability at PSA's Latin American unit. He also will decide financial tradeoffs among the company's brands, purchasing and industrial operations.

Asia chief Gregoire Olivier is charged with ensuring profitable growth in Russia and expanding the company's production outside Europe and Latin America.

Vehicle programs director Jean-Christophe Quemard assumes the task of reducing production costs and develop PSA's alliance with General Motors Co.