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Board of Russia's AvtoVAZ approves CEO resignation

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MOSCOW, August 1 (RIA Novosti) - The board of AvtoVAZ [RTS: AVAZ] has approved the resignation of the company's general director and appointed an acting head, Russia's leading car maker said Tuesday.

Earlier reports said Igor Yesipovsky had resigned over disagreements with the company's other top executives over development strategy.

AvtoVAZ said Maxim Nagaitsev, deputy general director for technical development, had been appointed acting chief executive officer.

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