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PSA chairman exits

Peugeot is looking for a replacement for Jean-Martin Folz, current chairman of PSA Peugeot Citroen, after he announced he will retire in January.

"Folz has informed Thierry Peugeot, chairman of the supervisory board of Peugeot, that he wishes to retire at 60." PSA said in a statement.

"Peugeot has put the supervisory board's compensation and appointments committee in charge of launching the selection process of the future chairman of the group's managing board who is to replace Folz," it added.

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