26 Oct 2010 13:56

AvtoVAZ directors to mull option program, budget for 2011 in Dec

MOSCOW. Oct 26 (Interfax) - The board of directors at Russia's largest automaker AvtoVAZ plans to meet in mid-December and take up the company's option program and budget for next year, AvtoVAZ Vice President for Finances Oleg Lobanov told reporters Tuesday on the sidelines of a financial directors summit organized by the Adam Smith Institute.

"A final decision has not been made, the board has discussed it and is generally in agreement. But it has decided that it would be good to discuss it one more time," Lobanov said in comments on the option program for top company management.

This program might involve from 2% to 3% of AvtoVAZ shares. A representative of company shareholder Troika Dialog was the first to speak of the possibility an option program might be adopted.