GAZ’s controlling shareholder Russian Machines has appointed a new Chief Executive Officer. Manfred Eibeck, former Chief Operating Officer, will now take over the CEO role from Alexander Filatov, who is transferring to the new position of Director General of the RM-Terex joint venture, which is poised to become one the Russian Machines’ key businesses.
In a statement, the company has said that Eibeck will focus on building strategic partnerships with leading international manufacturers, instilling world class governance practices, introducing cutting-edge technologies, and modernising production.
Eibeck joined Russian Machines in July 2011. Before this he served as President of Magna Russia, Executive Vice President of Magna-Europe, and in various manufacturing managerial posts at GM/Opel.
“Manfred Eibeck has enormous experience in managing automotive businesses. As CEO he will drive forward recently announced large scale projects including the further development of international partnerships, launching new products and market expansion,” commented S Wolf, Chairman of the Board of Directors at Russian Machines.
GAZ is currently working to expand its overseas presence, and plans to launch SKD assembly in Turkey by the end of this year through a partnership with local company Mersa Otomotiv.
Russian Machines, part of Basic Element Company, is involved in numerous other businesses as well. In addition to the automotive OEM segment, it also includes interests in automotive components, rail, aircraft, road construction machinery and military vehicle segments. In total, it employs 75,000 people across 14 regions in Russia. There was speculation earlier this year that the company was preparing to sell up to 25% in an initial public offering outside of its home market. The sale of such a minority stake was estimated to bring in as much as US$3bn. Russian Machines is thought to most likely sell stakes in its individual units, as opposed to the whole company.
