MOSCOW, March 15 (Reuters) - Nicolas Maure, the head of Renault’s Romanian subsidiary Dacia, will replace Bo Inge Andersson as chief executive of Russia’s largest carmarker Avtovaz on Tuesday, a source close to Avtovaz shareholders told Reuters.
Maure’s candidature was proposed by the Renault-Nissan Alliance which owns Avtovaz jointly with controlling stakeholder, Russian state-held firm Rostec, the business daily Vedomosti on Tuesday quoted its sources as saying.
Under Andersson, Avtovaz introduced a line of affordable models and substantially cut the plant’s personnel.
But, hit by a sharp devaluation of the rouble, Avtovaz widened its net loss by three times to 74 billion roubles ($1.05 billion) last year amid a shrinking car market in Russia.
$1 = 70.2485 roubles Reporting by Gleb Stolyarov; Writing by Dmitry Solovyov