The finance chief of Volkswagen‘s core brand, Patrik Andreas Mayer, is to swap roles with his counterpart at the automaker’s Seat subsidiary in Spain, Volkswagen confirmed on Monday.
Mayer, who has served as CFO at VW since October 2022, will be replaced by Seat finance chief David Powels at Volkswagen’s headquarters in the German city of Wolfsburg, a Volkswagen spokesperson said, confirming an earlier report by Manager Magazin.
Powels has held the role at Seat since September 2021.
The switch comes as the VW brand embarks on thorny talks to cut costs with possible plant closures as it battles with rising competition from China and elsewhere.
