Russia's Lada maker boss eyes profits despite struggling car industry

Moscow

FOUR months after taking the helm of struggling Russian car giant Avtovaz as CEO, Renault executive Nicolas Maure has set his sights on returning the Lada maker to profit by 2018.

Mr Maure, who headed Romanian carmaker Dacia for just over two years before taking on his new position, took over Avtovaz, which is majority-owned by the Renault-Nissan Alliance, in April amid major losses in the Russian car industry struggling with recession.