PSA purchasing chief, Gilles Michel, will take over from Jean-Martin Folz as head of PSA, according to Automobilwoche.

PSA has not officially announced Folz's successor, although the company has been clear that he will retire in January 2007. 

Gilles Michel (51) is currently a board member with responsibility for platforms, technology development and purchasing.

Michel has worked at the World Bank in Washington and before joining PSA was president of the ceramics and plastics division of Saint Gobain.

Automobilwoche says that amongst his most important tasks at PSA will be overseeing the company's return to the US market and improving its profitability.