Report: Renault, Rostec Aim to Replace AvtoVAZ’s CEO

The two largest shareholders of Russian carmaker OAO AvtoVAZ are moving to replace Nicola Maure, the company’s CEO, according to news agencies in the country.

Maure has served as CEO at AvtoVAZ, the maker of Lada cars, since March 2016. He succeeded former General Motors Co. executive Bo Andersson, who was squeezed out after two years because of his forceful efforts to reduce the company’s workforce and hike the performance of its suppliers.

When Maure took over, the Russian carmaker was in its third year of double-digit sale shrinkage caused by the collapse of the country’s car market. But sales began to rebound last year, climbing 12% for the market and 16% for Lada. Lada sales jumped 31% in January.

Maure was named last month to the additional post of head of Renault Eurasia operations. Media reports say a search for his successor at AvtoVAZ is still underway.