The non-family CEO of PSA Peugeot Citroën has paid the price for the company's poor performance after being sacked yesterday. Christian Streiff's contract was terminated by the France-based company's supervisory board, which is chaired by Thierry Peugeot.
Strieff, who took over the family-controlled organisation in February 2007, will be replaced by Philippe Varin on 1 June. Until then, Roland Vardanega, a member of the managing board, will act as interim Chairman.