By Marc Bisbal Arias

Renault SA (RNO.FR) said Monday that Alliance Rostec Auto BV has announced the appointment of Yves Caracatzanis as chief executive of Avtovaz (AVAZ.MZ), effective June 1.

Nicolas Maure, Avtovaz's current CEO, will keep his role until May 31. From April 2, he will continue "to monitor the financial recovery and mid-term development of the company" as senior vice president and chairman of the Eurasia region at Groupe Renault, and as vice-chairman of Avtovaz's board of directors.

Mr. Caracatzanis, who joined the company in 1992, currently serves as managing director at Groupe Renault in Romania.

Alliance Rostec Auto, which controls Avtovaz, is a joint venture between Renault and Russia's state-owned-company Rostec in which Renault has a majority stake.

Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com

(END) Dow Jones Newswires

April 16, 2018 05:46 ET (09:46 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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