Avtovaz has confirmed new board members at its annual general shareholders meeting held today (17 May).

To replace Stefan Mueller, Denis Le Vot, Jose-Vicente De Los Mozos and Andrei Sapelin, new directors were elected for the first time:  

  • Bruno Ancelin, executive vice president, Groupe Renault product planning and programmes
  • Yves Caracatzanis, president of Avtovaz from 1 June, 2018
  • Philippe Jeol, director partnerships and governance Eurasia region, Groupe Renault
  • Dmitry Kurdyukov - first deputy chairman, Vnesheconombank.

Sergey Skvortsov was re-elected chairman. Nicolas Maure, was elected vice-chairman.

Maure, Groupe Renault, chairman of Eurasia Region, said: "Avtovaz's strategy, supported by its shareholders, is bearing fruit. Thanks to a collective investment, the company is recovering financially and the success of the new models in the Lada range is there and promising for the future. I am confident that Yves Caracatzanis and the management of Avtovaz will maintain this momentum and carry Lada's ambitions high for the coming years."

Caracatzanis said: " I am honoured by the trust placed in me by the shareholders for my nomination in Avtovaz. I will be fully dedicated with Avtovaz' teams to achieve our objectives of recovery, sustainable growth and performance."