One of the most probable applicants for a post of the President of AVTOVAZ is the managing Director of Renault group in Romania, the President and CEO of the Romanian carmaker Dacia Frenchman Nicolas Moore, said the sources of “Vedomosti”. The sources said that a final decision on the candidature is not accepted.
Rumors about the impending resignation Bo Andersson as President of AVTOVAZ went for a few months, but officially the company Alliance Rostec Auto BV, a joint venture of Rostec and Renault-Nissan, announced only on 7 March. The decision on the candidacy of the new President will be decided March 15 at the meeting of the Board of Directors of AVTOVAZ, said when the company.
Alliance Rostec Auto BV belongs 74,51% of the capital of AVTOVAZ, the share of Renault-Nissan JV is 67,13% (Renault — 50,1%, Nissan — control an additional 17.03%), Rostec — 32,8%.
The head of Rostec Sergei Chemezov said that one of the main mistakes Bo Andersson was focus on foreign component suppliers, which has led the carmaker to losses. According to him, Andersson as head of Russia’s largest automaker “went the easiest path” — has concluded agreements for the supply of components from suppliers, automakers Renault and Nissan, not with the Russian manufacturers.
Earlier, Chemezov has repeatedly criticized Andersson for social policy, in particular indicated that when job cuts management had to act “sensitively”. “Method of circumcision, the people kicked to the street. This practice, probably European, we believe that this can not be done, you should be more flexible,” he commented.
The contract with Andersson was concluded for three years, expires in December 2016. The contract includes targets, main of which are achieving a market share of 20% and the output of AVTOVAZ to break even at a 6% operating margin. By the end of 2015, the factory received a record loss of 74 billion roubles under IFRS — three times more than the year before. Loss from operations increased more than eight times, to 66.8 billion rubles Market share of AVTOVAZ by the end of 2015 amounted to 18.6%, according to data of Association of European businesses.