Yann Vincent, a Renault executive who is currently one of two executive vice presidents at Russia’s largest carmaker AvtoVAZ, is expected to leave AvtoVAZ, Kommersant business daily has reported.
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The newspaper cited as source investment bankers cooperating with AvtoVAZ.
Following Vincent’s departure, Igor Komarov will remain executive vice president at AvtoVAZ, the daily said.
Prime-Tass said that Komarov, who previously worked at state-owned industrial conglomerate Rostekhnologii, took the position at AvtoVAZ two months ago.
AvtoVAZ President Boris Alyoshin said at the time that Vensan would keep his post with the company. Komarov was expected to control the plant’s financial flows amid the crisis, while Vensan was to take charge of vehicle sales and the renewal of AvtoVAZ’ model range.
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By GlobalDataSeveral more Renault-affiliated managers may also leave AvtoVAZ, Kommersant said, citing sources.
Prime-Tass said it is unclear exactly why Vincent is leaving AvtoVAZ.
Some analysts speculate that AvtoVAZ may be reconsidering Renault’s role in its development, but others say it could be a cost-cutting measure.
See also: EMERGING MARKETS ANALYSIS: Fixing AvtoVAZ starts with new product
