Carlos Ghosn named as chairman of the AvtoVAZ board

Article by Anita Panait, on July 1, 2013

Renault-Nissan chief executive Carlos Ghosn is now the chairman of the AvtoVAZ board, the French carmaker said in a statement. The previous chairman and currently head of Russian Technologies, Sergey Chemezov, is now vice chairman. Ghosn's appointment is part of a deal that entails Renault and Nissan taking a majority stake in a joint venture with Russian Technologies that will control 74.5 percent of AvtoVAZ by mid-2014.

Ghosn is hoping that AvtoVAZ could help increase Renault-Nissan’s sales in Russia, where demand for vehicles is expected to further surge in coming years. Demand in Russia is even expected to surpass that in Germany by 2014. The high potential of Russia for further sales growth have reached the attention of a number of carmakers like Renault, Volkswagen Group, Ford Motor Co., prompting them to expand capacity in the country.

Following a meeting of AvtoVAZ general shareholders, Ghosn remarked that the Renault-Nissan alliance is committed to providing the resources and expertise “necessary to transform AvtoVAZ into a world-class” carmaker.

AvtoVAZ chief executive Igor Komarov remarked in 2012 that the carmaker’s partnership with Renault-Nissan will result to a surge of production at its main Togliatti plant, where output is expected to more than double to 1.2 million cars by 2017.

Renault-Nissan now controls eight seats in AvtoVAZ 15-member board. According to data from the Moscow-based Association of European Businesses (AEB), sales of AvtoVAZ and Renault-Nissan vehicles as well as Infiniti, dropped 5 percent in Russia to 333,841 units in the first five months of 2013. [source: just-auto.com]

If you liked the article, share on:

Pin It

Comments

Recommended

To the proud owners and owner-to-be of the Porsche 991 Carrera GTS, there's good news for you all. German automobile manufacturer Porsche recently confirmed to the public that the Porsche...
by - March 23, 2017
McLaren diehards, this is the moment that you're all waiting for. The British automaker recently publicized the teaser outline of its new automobile that will hit the streets soon, dubbed...
by - March 23, 2017
PSA seems very confident about conquering the world. The purchase of Opel/Vauxhall for €2.2 billion ($2.3B) from General Motors makes PSA the second largest car company, just behind the Volkswagen...
by - March 23, 2017
Reporting for duty. It’s been a year since the Victoria Police was loaned a new Mercedes-AMG GLE 63 S Coupe. In those 12 months, the coupe served as the law...
by - March 23, 2017
After making its debut at the Paris Motor Show last year as a concept car, the Trezor by Renault managed to bring home the 2016 Concept Car Design Of The...
by - March 23, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries