The car sector claimed its first two top-level victims on Sunday when Rick Wagoner and Christian Streiff were ousted from GM and Peugeot Citroën respectively. Wagoner is to step down as chief executive of GM at the request of the White House, ahead of President Barack Obama’s Monday announcement on auto industry aid. GM is likely to file for bankruptcy protection in coming weeks. Wagner’s departure came the same day as Streiff was fired as chief executive of Peugeot. The NYT reports Streiff will be replaced by Philippe Varin, CEO of Anglo-Dutch steel group Corus.

This entry was posted by Gwen Robinson on Monday, March 30th, 2009 at 5:09 and is filed under Capital markets, People. Tagged with gm, Peugeot Citroen, Rick Wagoner. Edit this entry.