The head of the company “AVTOVAZ” from January 1 next year will take up the position of senior Vice President of Renault COO of Eurasia, and will be included in the Executive Committee of the French company. Note that earlier this post was held by Denis Le vota.
In the message of Renault emphasizes that Mr. Moore will remain the President of JSC “AVTOVAZ”. At the same time most of the time he will be in Russia. Recall that the French carmaker is the largest shareholder of “AVTOVAZ”.
In October, Renault announced the strategy of development designed for six years, according to which “AVTOVAZ” will increase sales to 500,000 vehicles, nearly twice the share of the company on the home market should reach 20%. It is expected that by the end of this year the Russian auto giant will retain a share of 19.5%.
In addition, according to experts, the contribution of PJSC “AVTOVAZ” to the total group’s revenue will increase in two times: last year, the figure was 5.9 percent. In the first nine months of this year, for the first time in the last five years showed an operating profit of $ 1.9 billion.