Word: streiff
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...filed long before the program's Dec. 31 expiration date. When similar initiatives were launched in France and Italy in the early 1990s, Rhys says, "there was a big sag in the market when the scheme ended." That same prospect has angered some in the industry. Christian Streiff, boss of France's PSA Peugeot Citroën, warned such incentive schemes have an "inverse effect" - they essentially guarantee an implosion in the market once the subsidies stop. (See the best cars from the 2009 Detroit Auto Show...
Louis Gallois, a Frenchman who was appointed CEO of Airbus last October, is trying to maneuver out of that mess. It's a perilous undertaking. Gallois replaced Christian Streiff, who lasted just 100 days after replacing Noël Forgeard, who was fired last summer. The restructuring plan Gallois unveiled seeks to eliminate duplication and reduce the 16 manufacturing plants to 10. His plan carefully distributes the job cuts. Immediately, politicians and unions in France and Germany started sniping over which side should bear the biggest burden. The three main candidates in the current French presidential-election campaign then promised more...
...financial prospects have brightened in recent months, and investors and industry officials fretted that Pischetrieder's exit could jeopardize the restructuring. "We see it as negative for VW," reckoned Credit Suisse analyst Harald Hendrikse. At France's Peugeot Citroën, Europe's second largest carmaker, Christian Streiff was appointed to succeed Jean-Martin Folz, 59, after he failed to reverse slumping sales. Streiff, 52, who has a reputation as a tough cost cutter, recently resigned as head of Airbus after just three months in the job. In Italy, meanwhile, Sergio Marchionne, 54, announced that after restoring Fiat...
...ones, where horse-trading trumps industrial efficiency, and where the national interests of its partners are balanced so carefully that many operations are needlessly duplicated. "It's very hard for Airbus to free itself from political strangulation," says Ulrich Horstmann, aerospace analyst at Munich, Germany-based Bayerische Landesbank. Christian Streiff, who took over as Airbus chief executive in July, is now trying to wriggle out of that choke grip. Last week, the board of EADS, Airbus' parent, signed off on his sweeping restructuring plan to replace political bargaining with industrial logic. Streiff says that Airbus urgently needs to become...
...Streiff is hoping to address these issues head-on, not just because he is new both to Airbus and to the aerospace industry (he's a manufacturing expert from the French glass company Saint Gobain), but also because the company is facing its biggest crisis since its founding in 1970. The company has slashed its delivery schedule for the A380 from one plane in 2006 to zero, from nine planes in 2007 to one, and from 25 planes in 2008 to 13. That's a significant setback for the behemoth's main customers, including Emirates and Singapore Airlines, which...