PARIS (Reuters) -- Nicolas Maure, the head of Renault's Romanian business, will replace Bo Andersson as CEO of AvtoVAZ, Russia's largest carmarker, the automaker’s owners said in a statement today.
Maure, 55, currently managing director for Renault Group in Romania, as well as CEO of Dacia, will take up the role on April 4, the Renault-Nissan alliance and Russian state-held firm Rostec said in the statement.
"AvtoVAZ has modernized its lineup and manufacturing processes, and significantly improved product quality," AvtoVAZ Chairman and Renaut-Nissan alliance head Carlos Ghosn, said.
"With Nicolas Maure, we plan to continue on this strategy despite the short-term challenges, and we remain bullish about the long-term future of the Russian market and AvtoVAZ as the leading domestic automaker," Ghosn said.
Renault-Nissan owns a combined 67 percent of the holding company that controls AvtoVAZ, while Rostec owns the remaining 33 percent.
Under Andersson, AvtoVAZ, which builds Lada cars, introduced a line of new models and substantially cut the plant's personnel.
But, hit by a sharp devaluation of the ruble, AvtoVAZ widened its net loss by three times to 74 billion rubles ($1.05 billion) last year amid a shrinking car market in Russia.
Maure has been in charge of Renault's Romanian operations and its Dacia unit, which is based in the country, since 2014. The Frenchman began his automotive career with supplier Valeo, later joining Faurecia. He joined Renault in 2000.
Automotive News Europe contributed to this report