AvtoVAZ, Russia’s largest car maker, is replacing its chief executive as the state pursues ambitious plans for the automotive sector, including a key role in the acquisition of Opel from General Motors.
AvtoVAZ, in which French car maker Renault owns a one-quarter stake, said that Boris Alyoshin was stepping down as chief executive of the company, best known for making the Lada. It did not name his replacement.
A source close to the group said the likely candidate would be Igor Komarov, an adviser to the head of state industrial conglomerate Russian Technologies, Sergei Chemezov, who is a close ally to Prime Minister Vladimir Putin.
Russian Technologies, like Renault, controls a 25 per cent stake in AvtoVAZ and is planning to create a new automotive giant to manage its stake in the company. Analysts have said any Russian-controlled stake in Opel could also be folded into it.
They have said that the large stake state-controlled Sberbank, which is the financier of the Magna bid for Opel, would get if Magna acquires the European car maker would be quickly passed on to Russian Technologies.