Bo Andersson will take over as CEO of AvtoVAZ on December 31

Article by Anita Panait, on November 7, 2013

Bo Andersson will be the chief executive of Russian carmaker AvtoVAZ, maker of Lada cars, starting December 31, 2013. Andersson, who is succeeding Igor Komarov, will be the first non-Russian to become the top honcho of AvtoVAZ, which is seeking to deepen its link with the Renault-Nissan alliance. The move was announced by AvtoVAZ through a statement following a board meeting led by Renault-Nissan CEO Carlos Ghosn.

Andersson is currently the CEO of Russian truckmaker and contract maker GAZ Group. Andersson’s mission will be to achieve a 40 percent combined market share in Russia for AvtoVAZ, Renault and Nissan by 2016 -- a target set by Ghosn. Renault and Nissan are currently in the process of acquiring indirect 74.5 percent control of AvtoVAZ under a deal inked in 20112.

Under the agreement, Renault and Nissan would invest RUR23 billion ($710 million). Andersson was a former top purchasing manager at General Motors Co., but left the carmaker in 2009 after Oleg Deripaska tapped him to help restore earnings at GAZ. Andersson was able to reorganize GAZ’s plant in Nizhny Novgorod and made production more competitive. He is also credited for convincing GM, Volkswagen Group and Daimler to build vehicles on its assembly lines.

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Topics: avtovaz, ceo

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