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. Last Updated: 07/27/2016

Alyoshin Quits Agency for AvtoVAZ

Federal Industry Agency chief Boris Alyoshin has quit to run AvtoVAZ, as the country's biggest carmaker seeks a foreign partner to help it compete with local units of foreign rivals, including Ford Motor.

The resignation was approved by Prime Minister Mikhail Fradkov on Monday, agency spokeswoman Natalya Sidoruk said Tuesday.

Alyoshin said in an interview last week that he expected to replace Vladimir Artyakov as chief executive of AvtoVAZ "later this year." President Vladimir Putin nominated Artyakov last month for the governorship of the Samara region, where Tolyatti-based AvtoVAZ is located.

AvtoVAZ, which is losing market share to foreign competitors, will sell a stake to a "strategic partner" as it seeks to revive flagging production and develop new models more efficiently, Alyoshin said Friday. That partner will be Renault, of France, Italy's Fiat or Canada's Magna International, he said.