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Renault executive exits Avtovaz

Russian carmaker Avtovaz, which makes Lada cars and is 25 per cent owned by Renault, replaced the most senior French executive on its management board with a Russian as part of a crisis plan that could see other managers appointed by the French carmaker leave. Renault confirmed that Igor Komarov, Avtovaz&rsquo;s executive vice-president in charge of finance, had replaced Renault&rsquo;s Yann Vincent. Avtovaz auditors also raised doubts about its future as a going concern as its fall in sales hits its ability to pay down $1.7bn (&pound;1.04bn) of debts.<br />