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Schaeffler has appointed Maxim Shakhov as Russia CEO based in Moscow and who will report to Central & Eastern Europe, Middle East & Africa, CEO, Rainer Lindner.

Following a career at DuPont and Vaillant in Germany and Russia, Shakhov took over as CEO at the Bionovatic Group, a Russian start-up company which specialises in biotechnology, in 2016.

After moving its offices into the House of German Industry in the centre of Moscow and establishing customer contacts, Schaeffler has implemented the strategy to strengthen its position on the Russian market.

“We are delighted to welcome Shakhov to Schaeffler and believe he will successfully represent the Schaeffler Group’s Automotive and Industrial divisions as well as cross-regional topics in the countries of the Eurasian Economic Union,” said Lindner.

Shakhov has an engineering degree, an MBA and many years of experience on the Russian and German markets, with the former recently showing the first small quarterly automotive sales uptick in four years.

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By GlobalData