PARIS — Renault Group has named Duncan Minto, a 25-year veteran of the automaker, as CFO of the Dacia-Lada enterprise unit.

Minto, 46, will report back to Renault CFO Thierry Pieton and Denis Le Vot, the overall supervisor of the Dacia and Lada manufacturers, and serve on the enterprise unit’s administration board. 

Renault CEO Luca de Meo in 2020 mixed Dacia, the Romania-based low-cost model, and the Russian model Lada right into a single enterprise unit to make the most of platform and growth synergies. 

Minto is presently vp monetary planning and evaluation at Renault, a place he has held since 2017.

In his new position, Minto will assist create the Dacia-Lada enterprise unit’s strategic plan, Renault stated Monday in a information launch.

As detailed in de Meo’s Renaulution turnaround plan, most Dacia and Lada fashions will transfer to the Renault-Nissan Alliance’s CMF-B platform by 2025, creating potential annual gross sales of practically 1 million models on the structure. Renault can also be searching for new markets for the manufacturers.

De Meo can also be transferring Dacia into the higher-margin compact section, from solely small automobiles. The primary joint Dacia-Lada automobile will probably be a compact SUV attributable to be launched by 2025.

Russia’s invasion of Ukraine has difficult Renault’s technique for Lada. Renault holds 68 p.c of AvtoVAZ, the mother or father firm of Lada, with the remaining held by Russian pursuits. Lada is the market chief in Russia with a 23 p.c share in 2021.

Minto studied on the College of St. Andrews in Scotland, and commenced his profession with Renault Group UK in 1997.

He then held numerous finance-related positions earlier than being named CFO of Renault-Nissan Portugal in 2006. In 2013, he was appointed CFO of the Renault Group’s Asia-Pacific area.