Dacia CEO to Head AvtoVAZ

Russian carmaker OAO AvtoVAZ has named Nicolas Maure to become its new CEO on April 4.

Maure, 55, has been CEO of Renault SA’s Dacia brand since the beginning of 2014. He succeeds Bo Andersson, who reportedly was fired in part for ordering massive layoffs and taking a stern approach to cleaning up the company’s corrupt supply chain.

AvtoVAZ, which produces Russia’s best-selling Lada brand cars, is controlled by the Renault-Nissan Alliance. Renault-Nissan CEO Carlos Ghosn says Maure will continue Andersson’s efforts to modernize the company “despite the short-term challenges.”

The Russian carmaker reported a 74 billion-ruble ($932 million) loss in 2015 as sales plunged 36% and revenue shrank 8%. Renault has vowed to do whatever is necessary to keep the company afloat.