Earthquake at Seat. The until now CEO of the car manufacturer, Wayne Griffiths, is stepping down. The executive, key in boosting the new Cupra brand, has made the decision at his own request "to undertake new challenges." In a difficult context for the automotive sector, with electric cars not quite taking off among consumers and the Volkswagen group announcing closures in Germany, Griffiths leaves and will be replaced on an interim basis by Seat's Executive Vice President of Production and Logistics, Markus Haupt. The company has indicated that the successor will be announced "soon."
Griffiths' decision comes a few weeks after the presentation of Seat's 2024 results, when the Baix Llobregat automaker registered record revenues of 14.5 billion euros and profits of 522 million euros. It does so, moreover, in the year Seat celebrates its 75th anniversary. It will also be the year in which production of the first electric cars will begin at the Martorell plant, where 3 billion euros are being invested to adapt the assembly lines. In his last public appearance, Griffiths, always very critical of the contribution of public administrations to electrification, assured that his intention was to remain at the head of the company.
"Griffiths has done a great job in developing the Cupra brand and restructuring the company. His understanding of the brand is impressive. He is, in the best sense, a true car lover. We thank him for his excellent contribution and wish him all the best for the future," said the CEO of the Volkswagen brand and chairman of Seat's board of directors, Thomas Schäfer. For the president of Seat's works council, Matías Carnero, Griffiths' departure has been "a surprise" for the workers. Always a step ahead, Carnero will ask his replacement to guarantee the planned investments and that there is no setback in the electrification plans.
Griffiths (Dukinfield, United Kingdom, 1966) has led Seat since October 2020. The executive began his career working at his father's car dealership, before studying International Management and German in Leeds. He has always been linked to the Volkswagen group. He started in 1989 at Audi AG and, after working at Seat between 1991 and 1993, returned to Audi, where he held several positions of responsibility. In 2016, he was appointed commercial vice president of Seat.