Pierre Peugeot Dies

PARIS, Dec 1, 2002; Reuters reported that the great grand-nephew of the man who founded French carmaker Peugeot, died on Sunday in Paris after a 45-year-long career behind the wheels of a company which moved into automobiles from bicycles in 1885.

Pierre was chairman of the supervisory board of a company now called PSA Peugeot-Citroen, which announced his death.

The descendant of founder Armand Peugeot, Pierre was born in 1932 and joined the family business in 1957, playing a big role in a post-war expansion that included the takeover of rival Citroen in the 1970s.

The supervisory board will meet shortly to choose a new chairman and deputy Jean Boillot will stand in for the time being, the company said. The cause of death was not stated.

Armand won what is considered to have been the first auto race in 1885, the Paris-Rouen trials, starting off a business which is synoymous with France and one of the 40 companies listed on the Paris stock exchange's top share index