Gales resigned as executive vice president for brands of Europe’s second-biggest automaker, the company said on Wednesday, although he will continue to sit on the group’s executive management committee through the end of March.
Gales joined France’s largest carmaker PSA Peugeot Citroën in 2009, after nearly 20 years in the German automotive industry, chartered with improving the performance of the firm’s Peugeot and Citroën brands worldwide.
Last June he told Delano the firm was focused on improving customer service, refining the identity of each brand, a boosting sales in emerging markets.
“In China, we are currently at 3.3% market share last year,” Gales said on the sidelines of a BGL BNP Paribas “Doers & Thinkers” conference. Our aim mid-term is to move up in the passenger car market to eight percent, somewhere around 2016.”
“The rebranding side of Gales's remit had been going quite well,” Stephen Reitman, an analyst with Société Générale, told the Reuters news agency. “But the missed performance goals and multiple profit warnings have to reflect a failure to meet sales targets.”
“I am very grateful to Jean-Marc Gales for his contribution to the development of our brands and I wish him every success in his new role,” Philippe Varin, president of the French car group, said in a press statement.
In April, Gales moves from Paris to Brussels, to become CEO of CLEPA, the European automotive suppliers association.
PSA Peugeot Citroën said Frédéric Saint-Geours, currently its finance chief, will replace Gales at the car company.
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