The former CEO of UzAuto Motors and UzAuto Motors Powertrain, Bo Andersson, summarized his tenure at state companies over slightly more than three years on his LinkedIn page. The farewell ceremony for the top manager took place on December 27, but the reasons for his departure remain undisclosed.
According to him, since 2021, UzAutoMotors has increased its annual production and sales volume by more than 60% — to 400 thousand units — and also created 4 thousand new jobs.
“During this time, we successfully launched the sales of the Chevrolet Tracker and Onix models, and Uzbekistan has become the second largest market for Chevrolet after the USA for the second consecutive year,” wrote the top manager.
Andersson expressed gratitude for the support from the “local leadership, international team of General Motors managers, and dedicated employees,” noting that the companies he worked for and “New Uzbekistan have a very bright future.”
Among his other achievements, he highlighted:
- implementation of best industry practices;
- defining key performance indicators (KPI);
- developing dealer programs;
- implementing value chain analysis, strict budgeting methods, and continuous measurement and reporting processes.
“Over 36 months we increased revenue by almost 130%. The annual net profit averaged more than 7%, while in 2023 it reached 7.2%, amounting to $333 million,” concluded Bo Andersson.
The former CEO of UzAuto Motors has transitioned to the role of advisor for development and operations at the Japanese company Sanoh Industrial, which specializes in manufacturing automotive parts.
Who is Bo Andersson
Andersson took on the positions of CEO at UzAuto Motors and UzAuto Motors Powertrain in August 2021. Prior to that, he held executive roles in the procurement divisions of General Motors, led the “GAZ Group” (2009 - 2013), and “AvtoVAZ” (2014 - 2016).
At the last meeting attended by Andersson, the achievements of UzAuto Motors were highlighted. In 2023, the company’s plants produced more than 395 thousand vehicles, a 20% increase from the previous year, and Uzbekistan became the second most significant market for the Chevrolet brand.
The average net profit of the automaker over the past three years exceeded 6%. Additionally, at the end of 2022 and the beginning of 2023, UzAuto Motors conducted an initial public offering (IPO) amounting to around 57 billion soums.
However, in September of this year, Andersson was fined 5% of his salary according to a shareholders' meeting decision. The reason was the delayed resolution of issues related to the company's accounts receivable from foreign trade operations.
Earlier, Spot reported that Saidazim Gulyamov was appointed as acting CEO of UzAuto Motors Powertrain.