Media talked about the successor of Bo Andersson at the head of AvtoVAZ – RBC

The president of AvtoVAZ Bo Andersson

Photos: «RIA Novosti»

The AvtoVAZ management system for the new position will be more effective cooperation with the government on social issues, sources told “Vedomosti”. Most likely, it will be at

Board of Directors

The shareholders of AvtoVAZ decided to reform the system of management of the company: it will be a new position of Government Relations and Control of Social Affairs, “Vedomosti”, with reference to its sources. The publication said that in this regard the President of AvtoVAZ will report the new officer.

Most likely, the new position will be formed on the board of directors level, said the newspaper, and a specific candidate for this position will offer “Rostec” which It has a blocking stake in AvtoVAZ. Interlocutor publication said that such a management scheme previously agreed upon by the major shareholders. In his view, this position is likely to be appointed to the Russians.

For information about the upcoming changes in the company’s management system was also confirmed by sources of “Kommersant” and “Interfax”.

It remains unclear the situation with the candidate for the post of head of the company. Some sources say that the decision on the resignation of the incumbent President Bo Andersson can be taken in the coming days, others say that the decision is not accepted and a successor has not been approved.

At the end of February, “Vedomosti”, with reference to its sources told that the corporation “Rostec”, which owns a blocking stake in AvtoVAZ, began seeking a successor Bo Andersson. Before that RBC sources told us that the work of Andersson dissatisfied both shareholders of AvtoVAZ -. Renault-Nissan Alliance and the State Corporation “Rostec”, while both companies declined to comment

TopContact Board Chairman Arthur Shamilov said then, “Vedomosti “that the beginning of your search successor may not mean the early resignation of the current president of AvtoVAZ, as the search for top-manager of this level takes 6-9 months.

As previously wrote RBC acting Andersson’s three-year contract expires in December 2016 . The contract was fixed the main indicators -. To achieve market shares of 20% and a yield of AvtoVAZ to break even at the operating margin of 6%

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, according to the Association of European Businesses amounted to 16.8% in 2015.