Having reached the end of his term of office as a Renault director, Louis Schweitzer's responsibilities have been renewed by the Joint Annual General Meeting of shareholders, which was held June 10, 1999. During the meeting of the Board of Directors which immediately followed the Annual General Meeting, Louis Schweitzer was also reelected Chairman of Renault for the length of his term of office as a director (six years). Louis Schweitzer's first term of office as Renault Chairman and director dates from May 1992.

Louis Schweitzer, Renault

Following Mr. Hanawa's entry to the Board of Directors, this body now comprises sixteen members, of which four were appointed or renewed during the Annual General Meeting of June 10 (Louis Schweitzer, Yoshikazu Hanawa, Jean-Luc Lagardère and Jeanne Seyvet). The terms of office of all directors are for a period of six years.

Martin Inglis, Ford Motor Company vice president, and president, Ford South American Operations, named Antônio Maciel president-Ford Brazil. Maciel succeeds Ivan Fonseca é Silva who becomes vice president of Strategy and Business Operations, Ford South American Operations.

Martin Inglis

Maciel was most recently president of Grupo Iitamarati, one of Brazil's largest conglomerates, operating in the areas of heavy construction, agriculture, agriculture-industrial and railway transportation. He also was president of three other companies: Ferronorte Participacoes S.A. - Ferropasa, a holding company comprising of the Ferronorte and Novoeste railway freight carriers; Ferrovia Bandeirantes S.A. - Ferroban; and Cecrisa Revestimentos Cerâmicos S.A. He was also the chairman of Ferroban's board of directors and a member of the board of directors of Grandiente Eletrônica S.A. and of Crecrisa. He also worked for Petrobrás from 1980 to 1990.

In South America, Ford's primary operations are in Brazil, Argentina and Ford Andina (Venezuela, Ecuador and Colombia). Ford has operated in Argentina for over 85 years, in Brazil for 80 years, and in Venezuela for 36 years. Ford employs over 18,000 people and operates seven assembly or other plants in the region.

Consequently, GEFCO, a subsidiary of PSA PEUGEOT CITROËN, and CARLSON WAGONLIT TRAVEL have signed an agreement to transfer the entire capital of GEFCOTOUR to CARLSON WAGONLIT TRAVEL at that date.

GEFCOTOUR negotiates, on behalf of PSA PEUGEOT CITROËN, all the provision of services relating to the organisation of business trips (air and train travel, car hire and hotels). It employs 75 people and, in 1998, its volume of business totalled 452 million francs.

The transfer to CARLSON WAGONLIT TRAVEL will give GEFCOTOUR the backing of a large international network which should further its development, while offering its personnel real prospects of advancement.