Elena Frolova appointed AVTOVAZ Chief Recovery Officer

    July, 7th, Elena Frolova is joining AVTOVAZ top-management team in the position of Chief Recovery Officer. This is a new top-level position created in the framework of AVTOVAZ financial recovery plan. Mrs Frolova will play a key role in its effective implementation.

    Frolova have finished Russian Open University and has a degree in economics and marketing, also she is a Certified Management Accountant. She started her carrier at AVTOVAZ working in accounting and grew from the lowest level to the position of Head of Consolidation International Financial Reporting Department. In 2005 joined Sollers Group and took financial positions in corporate reporting, investor relations, Manufacturing Controlling, Marketing&Sales controlling up to the position of deputy CFO of Sollers Group. In 2011 moved to JV Ford Sollers where Elena was appointed Executive Committee member and took operational position of deputy CFO.

    «Soonest financial recovery is AVTOVAZ key target, – stated Nicolas Maure, AVTOVAZ President. – We have submitted a financial recovery plan to the BoD and our shareholders – Alliance Renault-Nissan and Rostec – and received full support from their side. I’m sure that high professional expertise and vast experience in the Russian automotive industry will help Mrs Frolova to lead operational anti-crisis management effectively».