March 15, 2016 / 7:00 AM / 4 years ago

Renault Romania's Nicolas Maure to become Avtovaz CEO -source

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

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