Regulatory News:

PSA Group (Paris:UG):

In order to successfully execute the Push to Pass strategic plan, changes will be made to the PSA Group Executive Committee and Managing Board as from 1 September 2016.

This new organisation structure, which will retain the current Brands/Regions/Professions framework, is primarily to guarantee the roll-out of the Group's mobility services, boost its performance in China and ensure that the upcoming global launch of 121 products is perfectly orchestrated in every region.

Accordingly, Grégoire Olivier has been appointed to lead a new Mobility Services Department on the strength of his business development skills, and will be replaced as head of the China & Southeast Asia region by Denis Martin, who has demonstrated his ability to deliver high-level performance for the Europe region. Maxime Picat, who has honed his expertise at the head of the Peugeot brand, will take the reins of the Europe region, where he will lead the product and technology offensive set out in the Push to Pass plan. Jean-Philippe Imparato, currently spearheading PSA Retail's remarkable development, will take Maxime Picat's place at the head of the Peugeot brand in order to write another chapter in its success story.

The other members of the Executive Committee will generally remain focused on their current roles, while also sharing responsibility for the cross-functional aspects of the Push to Pass strategic plan.

At the request of the Chairman of the Managing Board, the Supervisory Board has approved the inclusion of Maxime Picat in the PSA Group Managing Board, to replace Grégoire Olivier. Jean-Baptiste de Chatillon and Jean-Christophe Quémard will continue to serve on the Managing Board.

Commenting, Carlos Tavares said: "With these changes, we are creating the best possible conditions for executing the Push to Pass strategy for profitable growth, while at the same time continuing to enhance our business efficiency on a daily basis. Now more than ever, the PSA Group Executive Committee is collectively committed to satisfying our customers."

About PSA GroupWith its three world-renowned brands, Peugeot, Citroën and DS, the PSA Group sold 3 million vehicles worldwide in 2015. Second largest carmaker in Europe, the PSA Group recorded sales and revenue of €54 billion in 2015. The Group confirms its position of European leader in terms of CO2 emissions, with an average of 104.4 grams of CO2/km in 2015. With a fleet of 1.8 million connected vehicles on the road worldwide, the Group is on the cutting edge of innovation in this field, and is expanding its services as a mobility provider. It is also involved in financing activities (Banque PSA Finance) and automotive equipment (Faurecia). For more information, please visit groupe-psa.com/en

PSA Group, +33 1 40 66 42 00www.groupe-psa.com@GroupePSA

United Guardian (NASDAQ:UG)
Historical Stock Chart
Von Jun 2024 bis Jul 2024 Click Here for more United Guardian Charts.
United Guardian (NASDAQ:UG)
Historical Stock Chart
Von Jul 2023 bis Jul 2024 Click Here for more United Guardian Charts.