New AvtoVAZ head promises more constructive cooperation with shareholders

It took less than a week for AvtoVAZ and its shareholders to confirm a replacement for outgoing Chief Executive Bo Andersson, and as forecast, it's a Renault Group man. Andersson was never expected to hang around past the expiration of this current contract in December 2016, but few were prepared for the 7 March announcement that he "plans to step down from the Russian automaker." AvtoVAZ didn't even have a replacement finalised yet, but it was obviously keen to bring in someone fresh.