AK&M reported that Mr B.Aleshin AvtoVAZ president signed regulations concerning the changes in the managing staff to optimize the management structure and cut down the administrative expenses stipulated in the anti crisis program.

According to the report, the posts of the senior vice president on staff, vice president on social policies, vice president on strategy, vice presidents on design and quality are liquidated.

AvtoVAZ is one of the leading car makers in the Eastern Europe. In 2007 it produced 735,897 cars; sales being up 6.2% to reach 663,500; exports rose 7.9% to 106,900. The 11 month output increased 10.3% to 742,800.

The 9-month net profit declined 9 fold to RUB 834 million, revenues being up to RUB 126.63 billion from RUB 109.62 billion.

(Sourced from AK&M)