Luca De Meo, who was the President of SEAT S.A. has stepped down from the top post according to statement put out by the company. The statement also goes on to say that Meo stepped down “at his own request and will remain a member of the (Volkswagen) Group until further notice.”
The Italian had been at the helm of the Spanish brand since 2015 and had overseen a period of massive growth fueled by an expanding SUV range. He also saw the emergence of Cupra – the marque’s premium performance brand.
Elsewhere in central Europe, Renault, is looking to replace Thierry Bolloré – their former top executive was ousted at the end of last year. According to a report by the Financial Times, “Meo is the favourite to helm the French carmaker, and the only remaining external candidate for the role, but must first agree an exit package with VW as well as joining details at Renault, according to two people familiar with the negotiations.”
Renault has been struggling since former Chairman Carlos Ghosn was removed from office on the grounds of financial misconduct, which also severely strained its relationship with global alliance partner Nissan. That said, if Meo ever gets the Renault job, it’ll certainly be an uphill battle but both companies are said to be keen on mending their relationship.
For the time being, SEAT’s Vice-President of finance, Carsten Isensee, will be helming the top post of the Spanish automaker until further notice while continuing with his functions, said the Spanish brand.
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