The European Automobile Manufacturers’ Association (ACEA) has elected Philippe Varin, CEO of PSA Peugeot Citroën, as its new president.

The announcement came today following a meeting of the ACEA Board of Directors.

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Mr Varin will lead ACEA until the end of his mandate as CEO of PSA Peugeot Citroën. The Board will announce Mr Varin’s successor at that time.

The presidency of ACEA was previously held by Sergio Marchionne, CEO of Fiat SpA and Chairman and CEO of Chrysler Group LLC. Mr Marchionne was voted in as ACEA President for the year 2012 and subsequently re-elected for 2013.

PSA said last month that Philippe Varin would stand down as CEO from January 1 2014, with the role being taken over by Carlos Tavares, who was formerly Renault COO.

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