Bo Andersson, a former top executive at General Motors, has been nominated to become the first foreign president of Russia’s largest carmaker, OAO AvtoVAZ, ahead of its takeover next year by Renault-Nissan.
The move would make Mr. Andersson, a 58-year-old Swede, the most prominent foreign executive in the country in charge of the largest auto manufacturing plant in the world, where around 70,000 employees produce more than half a million cars every year.
The nomination, issued by Renault’s CEO Chairman Carlos Ghosn and Sergey Chemezov, the head of Russia’s state defense corporation which owns a third of the car maker – is virtually certain to be ratified at the company’s next board meeting in early November, according to two people familiar with the situation.
Andersson declined to comment, saying through his assistant that it was “premature” to talk ahead of the board meeting. For the past four years he has served as president of Russian truck maker GAZ Group, helping turn the once moribund Soviet-era behemoth around by focusing on its successful commercial vehicle operation and by luring foreign auto giants including GM and VW AG to make use of its antiquated assembly lines through contract manufacturing deals.
Mr. Andersson would replace Igor Komarov, who had run AvtoVAZ since 2009, but announced his resignation on Wednesday. Russia media has reported that he will soon take charge of the newly created United Rocket and Space Corporation, part of Russia’s effort to revamp its space program, although he has declined to comment on what his plans are.
Via The Wall Street Journal
) - Friday, October 18th, 2013 - filed under Industry
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