20 Feb 2014 14:50

IzhAuto appoints new CEO

MOSCOW. Feb 20 (Interfax) - IzhAuto, which is part of LLC United Automobile Group, an Autovaz subsidiary, has appointed Mikhail Ryabov its new CEO, a spokesman for IzhAuto told Interfax.

"The board decided Wednesday to replace Alexei Alexeev with Mikhail Ryabov," he said.

He did not say why the decision had been made. Avtovaz did not comment on the information.

Ryabov is vice president for products and programs at Avtovaz, materials from the Togliatti manufacturer show.

IzhAuto increased production 19% in 2013 to 57,771 cars (all Lada Grantas). The company plans to make 80,000 cars in 2014.