Peugeot Citroen Dumps CEO Christian Streiff

Citing "exceptional difficulties" in the car industry, Peugeot fired CEO Christian Streiff on Sunday. Top-level executives at Peugeot had denounced Streiff, 54, for having a "high-handed and abrasive" style, according to media reports. Some observers say he lacked a clear strategy, writes Javier Espinoza, amid speculation that the company is vulnerable to a takeover.

Streiff will be replaced in the interim by managing board member Roland Vardanegam, who will act as chairman until June, when Philippe Varin, currently CEO of steelmaker Corus, takes over.

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