OREANDA-NEWS. October 06, 2009. A Board Meeting took place at CJSC “GM-AVTOVAZ”. At the meeting the decision was taken to call an extraordinary Shareholders Meeting to select a new membership of the Board of Directors. The following Shareholders Meeting approved the new membership of the Board of Directors, reported the press-centre of GM-AVTOVAZ.

Following persons from JSC “AVTOVAZ” were elected to the Board:

Igor Komarov – President of JSC “AVTOVAZ”

Oleg Lobanov – Vice-President for Corporate Development and CFO

Polina Grishina – Vice-President for Corporate Management

from GM side:

Chris Gubbey - President and Managing Director in charge of Russia and CIS

Eric Stevens - Vice President, Global Manufacturing and Labor (USA)

Enrico Digirolamo - (European Strategy Board Member), GME Vice President and CFO

from EBRD:

Michael Hoffmann - Head of Volga Federal District Office

At the same day at the first meeting of the collegial senior leadership body with CJSC “GM-AVTOVAZ” the new members of the Board considered and discussed many common business issues between the partners.

Furthermore the parties provided information on the important events in the business of their respective companies. AVTOVAZ introduced the new management structure of the Company and changes in Company’s development and goals resulted from the impact of the economic crisis and appropriate by the corporate crisis program.

The Board of Directors of GM-AVTOVAZ unanimously elected the President of JSC “AVTOVAZ” Igor Komarov to the Chairman of the Board of Directors of the Company.

Members of the Board of Directors also extended thanks to Boris Aleshin and Eduard Vaino for their hard work for the Board and contribution in the development of GM-AVTOVAZ.