OREANDA-NEWS. On 12 August 2009 was announced, that Chairman of the Board of Directors of OJSC GAZ Bo Andersson had been appointed President of GAZ Group.

In his new position Bo I. Andersson objective is to combine development of company's strategy with running current operations.

Near term objective for newly appointed GAZ Group President will be to ensure a balanced approach between product quality and all cost levels. Mr. Sergey Zanozin, CEO of GAZ will focus on sales revenue and dealership development, and will report to Mr. Andersson. The objective for new restructuring is to secure meeting the business plan required to restructure the company's debt, successfully launching new products, raising profitability and overall capitalization of the company.

"Our people are the strength of our company. It is their dedication and loyalty that will ensure all of us are proud of the products we manufacture and our company is a success" said Bo Andersson.

Svetlana Sokolova has been appointed Vice President of Finance, will lead the restructuring of the company's debt reporting to Bo I. Andersson.