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Five board members may quit Russian car giant Avtovaz

April 18, 13:28 UTC+3 MOSCOW
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MOSCOW, April 18. /TASS/. Five members of the board of directors of Russian top car marker Avtovaz may quit, the company reported Monday.

According to the board’s recommendations to shareholders, Chairman and CEO of Renault-Nissan Carlos Ghosn (Chairman of Avtovaz board), Rostec CEO Sergey Chemezov (Deputy Chairman of Avtovaz) as well as board members Vladimir Artyakov (First Deputy Director General of Rostec), Jean-Christophe Kugler (Senior Vice President, Chairman of Europe Region at Renault) and Bo Andersson who stepped down as the head of Avtovaz in April, may quit the board of directors.

The annual shareholder meeting was recommended to vote for the following candidates to board members: Denis Le Vot (Senior Vice President, Chairman of Eurasia Region, Renault), Stefan Mueller (Executive Vice President, Chief Performance Officer, Renault), Nicolas Maure (CEO of Avtovaz), Eduard Vayno (Vice-President/External relations at Avtovaz) and Vladimir Avetisyan (Deputy Chairman of the Executive Board of Rusnano).

 Deputy CEO of Russia’s state-owned corporation Rostec Sergey Skvortsov will head the board of directors, Renault press service reported Monday.

"Sergey Skvortsov is expected to become Chairman of the Board of Avtovaz," the report said.

Denis Le Vot, Renault’s Senior Vice President and Chairman of the Eurasia region, is expected to be elected Vice Chairman of the Board, the report said.

The annual shareholder meeting will be held on June 23 in Togliatti.

On April 4, Nicolas Maure became new Chief Executive Officer of Avtovaz amid the company’s worsening financials.

The Renault-Nissan Alliance has a majority stake in Alliance Rostec Auto BV. Renault, Nissan, Datsun and Avtovaz’ Lada brand build vehicles together in Togliatti and other plants throughout Russia.

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