Chemezov, Ghosn can leave Russia’s AvtoVAZ board of directors

MOSCOW, Apr 18 (PRIME) -- Sergei Chemezov, CEO of Russian industrial holding Rostec and CEO of Renault Carlos Ghosn can quit the board of directors of car producer AvtoVAZ, the company said in a statement on Monday.

The shareholders will consider the issue at an annual general meeting on June 23.

AvtoVAZ said in February that its net loss nearly tripled to 73.9 billion rubles in 2015. Rostec, whose joint venture with Renault-Nissan alliance holds 74.5% in AvtoVAZ, said then it planned to take measures to bail out the company.

Previous head of the company Bo Andersson resigned in February and was replaced by Nicolas Maure.

(66.0452 rubles – U.S. $1)

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