OREANDA-NEWS. October 18, 2012. The extraordinary GM-AVTOVAZ shareholders’ meeting took place.  During the meeting shareholders discussed organizational issues. Particularly, changes in the composition of GM-AVTOVAZ Board of Directors have taken place, reported the press-centre of GM-AVTOVAZ.   

Due to EBRD buy out the Bank’s representative retired from the JV Board of Directors. Thus, Board composition was reduced from seven to six members, with three representatives from each shareholder.

On the part of OJSC “AVTOVAZ”  Yug Francois Gerard Demarchelier, the Executive Vice-president of production and technical development of AVTOVAZ joined the JV Board instead of Yulia Stepnova.

New composition of the Board of Directors was approved. It includes:

on the part of OJSC “AVTOVAZ”

Igor Komarov, OJSC "AVTOVAZ" President

Oleg Lobanov , Executive Finance and Corporate Development,

Yug Francois Gerard Demarchelier, Executive Vice-president of production and technical development

On the part of General Motors:

Jim Bovenzi, GM Russia and CIS President and Managing Director

John Buttermore, GMIO Manufacturing Vice President

Julian Blissett,  GMIO New Business Development and Strategic Alliances Vice President

The Board members extended thanks to Yulia Stepnova who moved to the administration of Samara region and Artyom Sitnikov from EBRD for their performance as Board members and contribution into GM-AVTOVAZ JV development.