First non Russian CEO appointed to Lada

By Marc Castro

Nov 05, 2013 02:16 PM EST

Bo Andersson was recently appointed by OAO AvtoVAZ as its new CEO. He is the former top purchasing manager for General Motors and is the first non-Russian to lead the Lada car manufacturer. This comes as the firm deepens its ties with the alliance with Renault and Nissan.

Andersson would assume the position on December 31, succeeding Igor Komarov, who had left the industry. This was confirmed by AvtoVAZ through a statement after a board meeting chaired by Renault-Nissan CEO Carlos Ghosn.

Andersson is a Swedish national holding the position of CEO for GAZ Group, the truckmaker out of Russia. He would become the first non-Russian to hold the top executive position in the largest automaker in Russia. The company was established nearly half a century ago in the Soviet Union.

Lada's new CEO would be tasked to achieve targets set by Ghosn for a 40% combined market share in Russia for AvtoVAZ, Nissan Motor Co and Renault SA by 2016. The Nissan-Renault venture is seeking to acquire an indirect 74.5% controlling stake in the Russian carmaker through an agreement forged in late 2012 requiring pledges from buyers amounting to RUB23 billion or USD710 million.

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