Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

New Head Elected at GM-AvtoVAZ

The newly elected general director of AvtoVAZ, Igor Yesipovsky, was elected on Tuesday as head of the GM-AvtoVAZ joint venture, the companies said.

Yesipovsky replaces Vladimir Kadannikov, who was previously head of both AvtoVAZ and GM-AvtoVAZ. Kadannikov resigned from AvtoVAZ last year. The changes come a month after officials from state arms dealer Rosoboronexport were installed on the board of AvtoVAZ.

Yesipovsky was one of two Rosoboronexport officials elected to the AvtoVAZ board in December.

The state's apparent increased interest in AvtoVAZ, along with a possible state plan to merge the carmaker with KamAZ and GAZ, has raised questions over the future of the U.S.-Russian joint venture. Irina Shemyakina, a spokeswoman for GM-AvtoVAZ, said the companies planned to meet and discuss the issue, but did not elaborate.

GM and AvtoVAZ each hold 41.5 percent equity, and the European Bank for Reconstruction and Development holds the remaining 17 percent.