( CNN ) -- Automaker Peugeot has fired its chief executive , replacing Christian Streiff with Philippe Varin , currently the CEO at Corus , an Anglo-Dutch steelmaker . Peugeot is Europe 's second biggest carmaker . `` Given the extraordinary difficulties currently faced by the automotive industry , the Supervisory Board decided unanimously that a change in the senior leadership position was necessary , '' said Thierry Peugeot , chairman of the PSA Peugeot Citroen supervisory board Sunday . `` I am confident that under the leadership of Philippe Varin , the Group will be able , with all the teams , to unlock its potential . '' Varin will officially take over Peugeot 's top post on June 1 , but will begin `` familiarizing himself '' with operations starting next month . Roland Vardanega , a member of the managing board , will act as interim chairman until Varin assumes his new job . Peugeot , Europe 's second biggest automaker , posted a loss of €343 million , or $ 456 million , in 2008 and also expects to lose money in 2009 .
Christian Streiff replaced with Philippe Varin , currently CEO at Corus . Peugeot posted a loss of €343 million , or $ 456 million , in 2008 . Peugeot board : `` Change in the senior leadership position was necessary ''