France's biggest oil major arrives at political and economic crossroads

Article Abstract:

Michel Pecqueur, chairman of Societe Nationale Elf Aquitaine, the largest company in France, is the key to the company's success in future international oil markets, with the company relying on Pecqueur's management ability and foresight to lead it through the turbulent times expected through the late 1980s. Adding to the expediency of a new strategy is the drying up of the company's primary source of cash flow, the Lacq gas deposit in southwest France, and the problems being faced by its recent U.S. acquisition, Texasgulf, which is being hurt by the depressed state of the U.S. agricultural market for its chemical fertilizers. The role of the French government in Aquitaine's operation and the prospects for denationalization are discussed, as is Pecqueur's strategy for the firm in the future.

Fats and Oils, Petroleum industry, Political aspects, Industrial management, Pecqueur, Michel

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Levy's new designs for Renault

Article Abstract:

Renault head Raymond Levy uses a straight-talking, quick-paced, demanding management style designed to avoid complacency as the company makes a transition from a state agency to a regular state-owned company. Levy plans to reduce the Renault work force to 63,000 over the next three years by cutting 15,000 workers from the rolls. Renault is moving toward privatization, but it is suggested that the company is not yet prepared for the change, politically or financially. Long-term corporate debt is at $8.7 billion, labor is resisting privatization, the market is contracting, the company's model line is aging, and its management style is characterized as 'archaic'. Renault lost $5.5 billion over the last five years.

Regie Nationale des Usines Renault, Levy, Raymond

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Study in contrasts: Peugeot recovers as Renault gasps for air

Article Abstract:

Bernard Hanon, former chairman of Renault, was dismissed by the French government just one year after the government had used the company as an example of solid management, in contrast to Peugeot S.A., which at the same time was battling with the government over a layoff of 15,000 workers and was suffering from growing losses. However, since then Peugeot has been able to cut its losses from $260 million in 1983 to $140 million in 1984 and is expected to be profitable in 1985, while Renault was looking at a $1 billion loss in 1984, declining market share and an aging product line. The circumstances that led to the change of fortunes for the two companies and the outlook for each are described

Motor vehicles and car bodies, Economic aspects, Economic policy, Appointments, resignations and dismissals, Hanon, Bernard, Calvet, Jacques

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