The billionaire Peugeot family’s holding company is undergoing a rare changing of the guard, the first in nearly two decades that comes amid a broadening of their investments.
The French clan’s Etablissements Peugeot Freres, which oversees a fortune centered around the eponymous carmaker, named Nicolas Huet as chief executive officer to replace Thierry Mabille de Poncheville, who has held the job for 18 years. A lawyer by training, Huet will start on Oct. 9, the firm said Wednesday in a statement.
The Peugeots, who trace their empire to 1810 when an ancestor converted a windmill into a steel workshop, are among France’s most prominent industrial dynasties. While their first automobile dates back to 1889 and spawned a global manufacturer, the family started accelerating the diversification of their holdings about a decade ago. It’s now among a trio of wealthy French clans investing in Rothschild & Co. to help take the French bank private.
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