Seat and Cupra CEO steps down to 'pursue new challenges'

The CEO of car manufacturers Seat and Cupra, Wayne Griffiths, will step down "at his own request" on Monday to "pursue new challenges," as a statement shared by the company reads.

Griffiths took over the companies in 2020, and since then, he has "played a decisive role in shaping the development of the Cupra brand," the company said.

He also stepped down as president of the ANFAC car manufacturers guild last June due to the "inaction of the Spanish government to promote electric vehicles." During his tenure, he had heavily criticized authorities for slowly deploying financial aid for electric vehicles.

One of his major projects at Seat and Cupra was unveiling the brand's first all-electric model, the Cupra Born, in 2021.

"His understanding of the brand is remarkable. He is, in the best sense, a true car guy. We thank him for his excellent contribution," Thomas Schäfer, chairman of the supervisory board at Seat and Cupra, said.

Markus Haupt, the company's production and logistics executive vice president, will assume interim leadership. A successor will be announced at a later date.

All-time high sales

Griffiths leaves Seat with an operating margin of €633 million in 2024, increasing by €8 million compared to the previous year.

The company also closed 2024 with €14.53 billion in revenue, around 0.2% more than in 2023. This marked a "record" despite a complex context.

Last year, Seat delivered 558,169 vehicles, a 7.5% increase compared to the previous year.