With effect from October 1, 2024, David Powels will take over the responsibilities of Patrik A. Mayer as CFO of Volkswagen Passenger Cars.
“In these times, the finance department is undoubtedly of great importance. As CFO of the Volkswagen brand, Patrik Mayer 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.”
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.
