MOSCOW, March 10. The name of the new President of “AVTOVAZ”, which will replace Bo Andersson (the contract will be terminated prematurely), the basic shareholders of factory – the Renault-Nissan Alliance and state Corporation “rosteh” – will be announced March 15 at a meeting of the Board of Directors of “AVTOVAZ”. Among the most probable applicants – managing Director of Renault group in Romania, President and CEO of the Romanian carmaker Dacia, Frenchman Nicolas Moore, “Vedomosti”, citing a source close to the Russian automobile plant, and a source close to shareholders of “AVTOVAZ”.
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The final decision on candidacy is not accepted, they specify.
About the impending resignation Andersson on March 7 announced Alliance Rostec Auto BV joint venture Renault – Nissan and Rostec, which owns and 74.51% of the shares of “AVTOVAZ”. The candidacy of the new head of the company in the JV is not called. The main reason for dissatisfaction Andersson became poor financial performance of the group. By the end of 2015 AVTOVAZ loss under IFRS at 74 billion rubles, negative cash flow and stated that needs the support of shareholders.
The shareholders also intend to change the structure of management of AVTOVAZ. In the summer the Chairman of the Board of Directors of the company may be elected as the candidate of the “Rostec”, which will interact with the authorities and in charge of social Affairs, told the publication people, close to one of the shareholders of the automaker. Now the Council is chaired by the President of Renault and Nissan Carlos Ghosn.
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