French car chief ousted

France’s biggest carmaker, PSA Peugeot-Citroen, abruptly ousted chief executive officer Christian Streiff, saying “exceptional difficulties” confronting the industry require new management at the top.

Philippe Varin is being brought in from outside the company on June 1 to replace Mr Streiff, the company said in a statement.

Roland Vardanega, a member of the three-man board of directors at the car company, will preside over the company until then.