MOSCOW/PARIS (18 April 2016) – The Renault-Nissan Alliance and Rostec State Corporation anticipate the following appointments and changes to the board of directors of AVTOVAZ, effective June 23:
- Dr. Serguey Skvortsov is expected to become Chairman of the Board of AVTOVAZ
- Denis Le Vot is expected to be elected Vice Chairman of the Board of AVTOVAZ
The appointments are expected to be approved by shareholders at Russia’s largest automaker’s annual shareholder meeting June 23 in Togliatti.
Carlos Ghosn, CEO and Chairman of Renault-Nissan, is chairman of Alliance Rostec Auto BV, the holding company that controls AVTOVAZ. Both Ghosn and Sergey Chemezov, Rostec’s CEO, will continue to play an active role in AVTOVAZ’s strategy moving forward.
The Renault-Nissan Alliance has a majority stake in Alliance Rostec Auto BV. Renault, Nissan, Datsun and AVTOVAZ’s Lada brand build vehicles together in Togliatti and other plants throughout Russia.
New Leaders for a New Era
On April 4, Nicolas Maure became CEO of AVTOVAZ. Before becoming CEO of AVTOVAZ, Maure, 55, was Managing Director for Renault Group operations in Romania, where he was in charge of all commercial and industrial activities. He was also President and CEO of Automobile Dacia SA, one of the fastest growing car brands in Europe and the largest private company in Romania.
Skvortsov, Rostec’s Deputy General and Industrial Director, graduated from the Moscow State Institute of International Relations in 1986 with a degree in international economic relations. He has a PhD in economics. He completed a Merrill Lynch course in emerging market investments in the United States in 1992 and completed the Advanced Management Program at INSEAD in France in 2005. The investment company “Troika Dialog,” where Skvortsov was a Principal Partner, was instrumental in the creation of the new AVTOVAZ shareholder structure and in attracting Renault-Nissan to the strategic partnership.
Le Vot has been a member of Renault’s Management Committee since January 2015 and was appointed Renault’s Senior Vice President and Chairman of the Eurasia region in April. He holds an engineering degree from the École des Mines de Paris. He joined Renault in 1990 in Sales & Marketing within the International Operations Department. In 2011, he became Deputy Managing Director of Renault Russia. In September 2013, he became Vice President of Sales & Marketing for Renault’s top global markets.
ABOUT THE RENAULT-NISSAN ALLIANCE
The Renault-Nissan Alliance is a strategic partnership between Paris-based Renault and Yokohama, Japan-based Nissan, which together sell one in 10 cars worldwide. The companies, which have been strategic partners since 1999, sold 8.5 million vehicles in nearly 200 countries in 2015. The Alliance has strategic collaborations with automakers including Germany’s Daimler, Japan’s Mitsubishi Motors, and China’s Dongfeng Motor. The Alliance also owns a majority stake in the joint venture which controls Russia’s AVTOVAZ, maker of the Lada brand.
About Rostec State Corporation
Rostec State Corporation is a Russian corporation founded in 2007 for the purpose of promoting the development, production and export of hi-tech civilian and military industry products. It comprises 700 organizations, nine of which have now been formed as holding companies of the military-industrial complex, five of them are involved in civil industries and 22 are directly controlled. Rostec’s portfolio includes recognized brands such as Avtovaz, Kamaz, Russian Helicopters, and VSMPO-AVISMA. Rostec’s organizations are located in 60 constituent entities of the Russian Federation and supply their products to the markets of more than 70 countries. The revenue of Rostec in 2013 amounted to RUB 1.04 trillion. The tax deductions into the treasuries at all levels exceeded RUB 138 billion.
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