/GM and PSA sack CEOs!

GM and PSA sack CEOs!

gm rick wagoner at GM and PSA sack CEOs!

The global financial crisis is claiming victims and the latest are bosses of two giant auto makers. Rick Wagoner of General Motors and Christian Streiff of PSA Peugeot Citroen, both got fired!

Wagoner actually has to step down because Obama ordered him to do so! and that’s a good decision by the president, because , to be brutely honest Ricky never made anything better in GM during his administration!they just couldn’t let him blow up the bailout as well. He will be replaced by Fritz Henderson, who was the company’s president and chief operating officer.

On the other side of the ocean, France’s largest car manufacturer Peugeot Citroen kicked out their CEO as well, because of financial turmoil and following consequences  company is facing. Mr.Steriff will be replaced Phillipe Varin, current CEO of Corus group.

(Founder / Chief Editor / Journalist) – Arman is the original founder of Motorward.com, which he kept until August 2009. Currently Arman is our chief editor and is held responsible for a large part of the news we publish.