PSA Peugeot Citroen has denied it plans to adopt a single commercial management structure for its twin Peugeot and Citroen brands, as weekly magazine Challenges claimed in an unsourced report for publication on Thursday.
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The magazine said last month’s departure of Gilles Michel, head of the smaller Citroen business, might prompt PSA to pool procurement, promotional activity and overseas units in a bid to save costs.
“We’re unable to identify the source of the quotes,” a PSA spokesman told just-auto. “It’s a story we’ve not put out and we’re not quite sure where Challenges got their information.
“There’s no plans to do that. The departure of Gilles Michel was a separate issue and wasn’t a reason to try and accelerate things.”
Michel is moving to manage French state bank CDC’s strategic investment fund and PSA had said earlier chief executive Christian Streiff would run Citroen for an interim period.
