Sollers directors extend general director's contract for 5 yrs
MOSCOW. March 6 (Interfax) - The board of directors at OJSC Sollers has extended the automaker's contract with its general director Vadim Shvetsov for another five years, a company statement says.
"Vadim Arkadyevich Stvetsov is appointed the company's general director for five years from March 6, 2012," the statement says.
Candidates for the company board of directors have also been approved, with the current board standing for reelection.
These are: the chairman of the supervisory council of the association of independent directors, Alexander Ikonnikov; the general director and co-owner of the Sollers group Shvetsov; the group's first deputy general director, Nikolai Sobolev; the Sollers director for legal issues, Viktor Khvesenya; the former vice president of General Motors, David Herman; the head of the National Research University of the Higher School of Economics. National Research University Higher School of Economics, Yevgeny Yasin; the chief of the Monitor Group, Richard Broyd, and the vice chairman of Golden Telecom, Patrick Gallagher.
Sollers, formerly Severstal-Auto, manages the Ulyanovsk Automotive Plant, Zavolzhsky Motor Plant , Sollers-Naberezhniye Chelny, Sollers-Elabuga and Sollers-Far East. The company also has an engine manufacturing joint venture with Fiat Powertrain Technologies. Sollers produces UAZ, Fiat, Isuzu and SsangYong models in Russia. The group was looking to start up a joint venture with Ford in the fourth quarter of last year, but decided to stop working with Fiat.
Shvetsov's Newdeal Investments owns 52.3% of the Sollers stock.