06-03-2002, 05:34 PM
PSA reveals execs' pay
Sylviane de Saint-Seine
Automotive News Europe
PSA/Peugeot-Citroen Chairman Jean-Martin Folz earned E1.73 million last year, according to the company's annual report.
Peugeot Managing Director Frederic Saint-Geours was paid E746,000 and Claude Satinet, his counterpart at Citroen, earned E745,000.
Some 51 percent of Folz's pay award was related to PSA's financial performance, compared with about 41 percent for Saint-Geours and Satinet.
Earlier this year, Renault said Chairman Louis Schweitzer earned E1.1 million in 2001.
At supplier Faurecia, which is 72 percent owned by PSA, Chairman Pierre Levi earned E615,000 last year, according to Faurecia's annual report.
l PSA will decide this month whether to resume production at its plant in Buenos Aires, Argentina. The plant, which made 47,000 cars in 2001, closed toward the end of last year. PSA bought the Buenos Aires site from Fiat two years ago.
"The situation in Argentina is quite disastrous," Folz said. "As for the country's economic recovery, I am unable to make any forecast. But we want to maintain our presence at the smallest possible cost."
Sylviane de Saint-Seine
Automotive News Europe
PSA/Peugeot-Citroen Chairman Jean-Martin Folz earned E1.73 million last year, according to the company's annual report.
Peugeot Managing Director Frederic Saint-Geours was paid E746,000 and Claude Satinet, his counterpart at Citroen, earned E745,000.
Some 51 percent of Folz's pay award was related to PSA's financial performance, compared with about 41 percent for Saint-Geours and Satinet.
Earlier this year, Renault said Chairman Louis Schweitzer earned E1.1 million in 2001.
At supplier Faurecia, which is 72 percent owned by PSA, Chairman Pierre Levi earned E615,000 last year, according to Faurecia's annual report.
l PSA will decide this month whether to resume production at its plant in Buenos Aires, Argentina. The plant, which made 47,000 cars in 2001, closed toward the end of last year. PSA bought the Buenos Aires site from Fiat two years ago.
"The situation in Argentina is quite disastrous," Folz said. "As for the country's economic recovery, I am unable to make any forecast. But we want to maintain our presence at the smallest possible cost."
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<!--QuoteEnd--><!--QuoteEEnd-->Bah... PSA sont réputés pour payer à coup de lance pierre.
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