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LDV chief exec resigns

Steve Young has resigned as chief executive and director of LDV, which is owned by Russian manufacturer GAZ.

Young will now 'pursue other opportunities' in the automotive industry. Eugeny Vereschagin, the chief financial officer of GAZ Power Train Division will take over as director of LDV.

Martin Leach, executive chairman of LDV, will act as interim chief executive while GAZ looks for a replacement.

Leach said: "The business has gone through enormous change over the last 18 months, with new products, new markets and significant improvements across the board in all aspects of performance. Steve provided invaluable leadership in these changes, while building confidence in LDV and the Maxus product as a real alternative to the major players in the light commercial vehicle market."

Young said: "This was not an easy choice for me. I am confident that LDV will continue to develop and satisfy an increasing number of informed customers around the world. I wish both GAZ and LDV well for the future."

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