AvtoVAZ Seeks To Calm Tumult With New CEO

   (FROM THE WALL STREET JOURNAL 3/16/16) 
   By Jason Chow

PARIS -- Nicolas Maure, chief executive at Romanian car maker Dacia SA, will take over as the new boss at Russian auto manufacturer AvtoVAZ, said the Renault-Nissan Alliance, the majority owner of AvtoVAZ.

Mr. Maure, 55 years old, will succeed Bo Andersson on April 4, the car-making alliance that unites France's Renault SA and Japan's Nissan Motor Co. said Tuesday. The companies said last week that Mr. Andersson would step down after a stint at the job that lasted just over two years.

For the past two years, Mr. Maure has led Dacia, which is wholly owned by Renault and a fast-growing budget car brand. He has been working at Renault since 2000, following stints at French auto-parts makers Faurecia and Valeo SA.

The swift change at the CEO office marks an effort to calm the tumult at the top at AvtoVAZ, which makes Lada-branded cars and in which the Russian state conglomerate Rostec owns a minority share.

Earlier this month, Rostec CEO Sergei Chemezov told The Wall Street Journal that Mr. Andersson was going to be fired, blaming the Swedish-born executive for AvtoVAZ's 74-billion-ruble ($1.2 billion) loss in 2015.

Three days after the interview, Renault-Nissan said Mr. Andersson was going to step down from his post.

"AvtoVAZ has modernized its lineup and manufacturing processes, and significantly improved product quality," said Carlos Ghosn, chief executive at both Renault and Nissan.

"With Nicolas Maure, we plan to continue on this strategy despite the short-term challenges, and we remain bullish about the long-term future of the Russian market and AvtoVAZ as the leading domestic auto maker."

(END) Dow Jones Newswires

March 16, 2016 02:48 ET (06:48 GMT)

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