Chemezov said Bo Andersson of resignation from the post of the head of AvtoVAZ – RBC

The president of AvtoVAZ Bo Andersson

Photo: Yekaterina Kuzmina / RBC

The chapter “Rostec” Chemezov told The Wall Street Journal, that the decision on the resignation of Bo Andersson as president of AvtoVAZ made

the general director of “Rostec” Sergei Chemezov said in an interview with the Wall Street Journal, he agreed with the controlling shareholder – the Franco-Japanese alliance Renault-Nissan AvtoVAZ to the resignation of President Bo Andersson at the meeting of board of directors, which will be held later this month

«Now we need the other person,” – said Chemezov. “That’s all”, – he added

According to the WSJ, Chemezov said that the board will be held after the holidays, 9 or 10 of March.. The representative of “Rostec” reported that the board meeting is likely to take place later in March.

Later, The Wall Street Journal has removed from his article about the possible date of the Board of Directors, specifying, citing a source familiar with the the question that the resignation Andersson could happen in the next few days.

The current three-year contract Andersson expires in December 2016. Previously, that question about the possible resignation Andersson may be included in the agenda of the next board of directors of AvtoVAZ, told RBC a source close to one of the shareholders of the plant. Information confirms the familiar Andersson

RBC Sources also told that the work Andersson dissatisfied both shareholders of AvtoVAZ -. Renault-Nissan Alliance and the State Corporation “Rostec” (both companies declined to comment). One of RBC’s interlocutors noted that the issue of early termination of the contract with the Andersson is discussed since November 2015, when Chemezov has fallen with criticism Andersson about the personnel policy pursued by them .

The contract Andersson fixed targets, the main of which – to achieve market shares of 20% and a yield of AvtoVAZ to break even at 6% operating margin. So far, none of the conditions is not satisfied. At the end of 2015 the plant received a record in the history of a loss of 74 billion rubles. IFRS – three times more than the year before. Loss from operations increased more than eight-fold, to 66.8 billion rubles. AvtoVAZ’s market share on the basis of 2015 amounted to 18.6%, according to the Association of European Businesses.

Sam Andersson in an interview with RBC to the question, how many years would you like to work at AvtoVAZ, He said: “I am 60 years old and I’m getting to the end of a professional career. I want to make a successful and profitable AvtoVAZ ».