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Volkswagen Group appoints David Powels as new CFO, prioritizing cost savings amid competition and a €10bn savings plan.
Volkswagen Group has appointed David Powels as the new CFO of its namesake brand, effective October 1, succeeding Patrik A. Mayer.
Powels, previously head of finance at Seat, will focus on enhancing competitiveness through cost savings amid a cost-cutting initiative that has raised concerns among German workers over potential plant closures.
This leadership change comes as Volkswagen faces increased competition and aims to save €10 billion by 2026.
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Volkswagen Group nombra a David Powels como nuevo CFO, priorizando el ahorro de costes en medio de la competencia y un plan de ahorro de 10 mil millones de euros.