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Eduard Vaino will focus on strategic development of AVTOVAZ

Eduard Karlovich Vaino, Vice-President for external and shareholders’ relations of JSC AVTOVAZ, decided to focus on strategic development in the Board of Directors of the Company, and to leave the position in operational management from November 1, 2019.

''AVTOVAZ, with the active support of its shareholders – Groupe Renault and Rostec – has successfully overcome the internal crisis and embarked on the path of sustainable development. In this situation, I see for myself the main task to focus on the strategic aspects of corporate development of the Company to maintain the leadership of AVTOVAZ in Russia, its further integration into Groupe Renault and the Renault-Nissan-Mitsubishi Alliance and the global automotive industry,'' – Mr. Vaino said.

''For several decades Eduard Karlovich Vaino has personally implemented a huge number of projects, which have ensured AVTOVAZ technological leadership in the Russian automotive industry and the popularity of the LADA brand all over the world. He was key contributor to establish successful partnership with Group Renault and the Alliance. I am sincerely thankful to him for this work, and I am sure that continuation of his work in the Board of Directors of AVTOVAZ will give an additional impulse to achieving our strategic goals,'' – Mr. Yves Caracatzanis, AVTOVAZ President and CEO, said.

“I address my warmest thanks to Mr Vaino for his contribution to AVTOVAZ for so many years, throughout the successive periods of the history of the Company. I am looking forward to benefitting from his continued active participation in the Board of Directors”, - stated Mr Nicolas Maure, Chairman of the AVTOVAZ Board of Directors.

By a separate decision of Yves Caracatzanis:

-Sergey Gromak, Director for GR, is promoted to the position of AVTOVAZ Vice-president for GR, shareholders and investor relations;

-Steve Mattin, Director for Design, will be promoted to the newly opened position of AVTOVAZ Vice-President for Design.