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PSA Groupe CEO Carlos Tavares. Photo: Julien de Rosa/IP3 via Getty Images

Carlos Tavares, a weekend racer with a gutsy instinct on and off the track, will soon be in charge of the world's fourth-largest automaker.

Why it matters: Since last year's death of Fiat Chrysler's Sergio Marchionne and arrest of Renault-Nissan's Carlos Ghosn, the global auto industry has been looking for its next Lee Iacocca or Bob Lutz. Here comes Tavares.

Driving the news: The Portugal-born boss of France's PSA Groupe is slated to become CEO in a 50-50 merger between the Peugeot parent and Fiat Chrysler Automobiles.

As I reported in Forbes in 2017, Tavares is a dynamic, thoughtful leader who keeps his eyes on what's ahead.

  • Once a top lieutenant to Ghosn, he got canned after telling a reporter he wanted to be CEO. A few months later, he got his wish at the nearly bankrupt PSA.
  • He has a reputation for efficiency, turning loss-producing businesses into moneymakers, but his challenge now will be navigating the disruptive technology changes roiling the industry.
  • He's prepared to adapt. "We are dinosaurs," he told me in 2017. "And if we don't want to disappear like dinosaurs, we have to operate in a different way."

What to watch: The industry is taking note of Tavares' ambition. "Number 4 is not his goal," one exec told me. "If I’m Toyota, GM or VW, I’m shaking in my boots."

Go deeper... Report: Fiat Chrysler and France's PSA agree to merger terms

Go deeper

In photos: D.C. and U.S. states on alert for pre-inauguration violence

National Guard troops stand behind security fencing with the dome of the U.S. Capitol Building behind them, on Jan. 16. Photo: Kent Nishimura / Los Angeles Times via Getty Images

Security has been stepped up in Washington, D.C., and state capitols across the U.S. as authorities brace for potential violence this weekend.

Driving the news: Following the Jan. 6 insurrection at the U.S. Capitol by some supporters of President Trump, the FBI has said there could be armed protests in D.C. and in all 50 state capitols in the run-up to President-elect Joe Biden's inauguration Wednesday.

15 hours ago - Politics & Policy

The new Washington

Illustration: Sarah Grillo/Axios

The Axios subject-matter experts brief you on the incoming administration's plans and team.

Rep. Lou Correa tests positive for COVID-19

Lou Correa. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

Rep. Lou Correa (D-Calif.) announced on Saturday that he has tested positive for the coronavirus.

Why it matters: Correa is the latest Democratic lawmaker to share his positive test results after last week's deadly Capitol riot. Correa did not shelter in the designated safe zone with his congressional colleagues during the siege, per a spokesperson, instead staying outside to help Capitol Police.