Reuters (Paris) - PSA Peugeot Citroen appointed Maxime Picat as managing director of its Peugeot brand to replace Vincent Rambaud who, the French carmaker said, was leaving the group for personal reasons.
Picat has been head of Dongfeng Peugeot Citroen Automobiles (DPCA), PSA's joint venture with Dongfeng Motor Corp, since January 2011. The business makes Citroen and Peugeot models for sale in China.
Picat, 38, had been deputy managing director of DPCA since August 2008, helping the venture's sales more than double from 2008-11, Peugeot said on Monday.
Peugeot is bearing the brunt of a long, deep sales slump that has squeezed automakers' earnings amid overcapacity in Europe. It is cutting more than 10,000 domestic jobs as it closes a plant near Paris and shrinks another in western France.
