Management change in the finance department of the Core brand group

Patrik Andreas Mayer becomes Board Member for Finance and IT at SEAT S.A.

- David Powels becomes Chief Financial Officer of the Volkswagen Passenger Cars brand

With effect from October 1, 2024, there will be a change of baton on the Board of Management of the Volkswagen Passenger Cars brand and on the Board of Management of SEAT S.A. Patrik A. Mayer will take over from David Powels as Chief Financial and IT Officer of SEAT. S.A., while David Powels will take over the responsibilities of Patrik A. Mayer.

In these times, the finance department is undoubtedly of great importance. As CFO of the Volkswagen brand, Patrik Mayer has made a significant contribution to the structured and successful launch of the performance program. David Powel will build on this. And at the same time - under even more difficult conditions - provide impetus for competitive costs and structures. It is also about leveraging the synergies within the Brand Group Core with the utmost consistency,

says Thomas Schäfer, Member of the Board of Management of Volkswagen AG, Brand Group Core & CEO Volkswagen Brand.

“David's contribution has been crucial to the transformation of our company and has helped us achieve our best financial results to date. His role in returning SEAT S.A. to profitability has been key to the growth of our company. I thank him for the support he has given me and SEAT S.A. and I am convinced that he will continue to do a great job as he joins the Board of the Volkswagen brand and we count on his support in the implementation of the SEAT and CUPRA strategy,” says Wayne Griffiths, CEO SEAT and CUPRA.

To continue our journey towards sustainable profitability, it is essential to have experienced and qualified leaders like Patrik Mayer on board. We are very pleased to welcome him to SEAT and CUPRA.

Patrik Andreas Mayer comes from Heilbronn, where he was born in 1970. After graduating from high school in 1990, Mayer studied mechanical and industrial engineering at KIT (Karlsruhe Institute of Technology), Coventry University and the École Nationale Supérieure d'Arts et Métiers in Paris.

He also holds a Master of Business Administration from Henley Management College in the UK.

He began his professional career at the Volkswagen Group in 1997 as an international trainee in Wolfsburg. In 2001, he became Head of Investment Controlling at the Volkswagen Passenger Cars brand.

This was followed by numerous management positions within the Group, including Head of Business Development, Director of Finance at Volkswagen Navarra and Executive Vice President for Finance and Information Technology at Volkswagen Group of America in Chattanooga.

In 2014, he was given responsibility for Controlling at the components plant in Kassel before being appointed to the Board of Management of Volkswagen Group Russia as Chief Financial Officer in 2016.

Since October 1, 2022, he has been a member of the Volkswagen brand Board of Management with responsibility for Finance.

David Powels graduated in Commerce from Nelson Mandela University of Port Elizabeth and qualified as a Chartered Accountant in South Africa. He also completed a postgraduate degree in Management Development at the University of Cape Town. Powels started his career at Volkswagen South Africa in 1989. After working in Germany and Brazil, he was appointed CEO of Volkswagen Group South Africa in 2007.

He then became President and CEO of Volkswagen Brazil and the Volkswagen Region South America. Since the end of 2017, he has held the position of First Vice-President and Executive Vice-President for Commercial at SAIC Volkswagen Automotive Co. in China, and since September 1, 2021, Powels has been Board Member for Finance and IT at SEAT S.A.