Billionaire Peugeot Dynasty Hires New CEO to Manage Fortune (1)

The billionaire Peugeot family’s holding company is undergoing a rare changing of the guard, the first in nearly two decades that comes amid a broadening of their investments.

The French clan’s Etablissements Peugeot Freres, which oversees a fortune centered around the eponymous carmaker, named Nicolas Huet as chief executive officer to replace Thierry Mabille de Poncheville, who has held the job for 18 years. A lawyer by training, Huet will start on Oct. 9, the firm said in a statement.

The Peugeots, who trace their empire to 1810 when an ancestor converted a windmill into a steel workshop, ...