It's pension time at two of Europe's top car manufacturers, as the bosses of Seat and Peugeot both sign up for the buss pass.
Seat President Dr Andreas Schleef has told the Spanish firm that he wants to stand down at the end of this month, to coincide with his 63rd birthday. He'll be replaced by Erich Schmitt, who currently holds a position on the board at Audi.
And Jean-Martin Folz, Chairman of Peugeot's Supervisory Board, has given notice that he'll stand down in January 2007, when he'll be 60.
Folz, originally from Strasbourg, took over the reins at Peugeot in 1997. He has recently been embroiled in controversy over the decision to close Peugeot's final British manufacturing facility in Ryton and move production of the 206 model to eastern Europe. Peugeot expects to appoint his successor before the end of the year.
There's no word yet on whether these two heavy-hitters will think of costs and opt for a joint leaving party. But expect some spectacular canapés if they do.
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