Wayne Griffiths, CEO of Volkswagen’s Spanish subsidiary SEAT and the founder of the Cupra brand, has stepped down from his position at his own request to “pursue new challenges.” Just three weeks prior, Griffiths had expressed to reporters that his role was a dream job and he hoped to see the launch of Cupra in the United States. Speculation arose regarding a potential new post within Stellantis.
Soon before his departure, Griffiths was preparing for the June opening of Cupra’s flagship location in the U.K. Instead of opting for London, he chose Manchester—the world’s first industrial city and his childhood home—as the location for this outlet. Griffiths mentioned to journalists at the company’s annual press conference how much he was looking forward to returning home, associating this sentiment closely with the identity of Cupra.
His departure as head of SEAT, effective Monday, was unexpected following record results in a stagnant European car market in 2024, from which it generates nearly 90% of its revenue. Last month, Griffiths had stated he had no plans of leaving his role, which he assumed in late 2020. Cupra, which is on track to reach 1 million cumulative vehicle sales since its 2018 inception, was his creation.
Griffiths was also gearing up for the unveiling of the Raval small EV, taking inspiration from its Urban Rebel concept, and was exploring a deal to introduce Cupra to the U.S. market, collaborating with retailer Penske Automotive by the end of the decade.
Griffiths has often stated how closely tied he is to the company, hoping to remain involved during the U.S. launch of Cupra. During an event, he reiterated that his current role was his dream job, and he had no plans to be anywhere else.
As a marketing strategist, Griffiths launched Cupra in 2018, establishing it without the century-old automotive history or motorsport legacy that other popular European brands possess. Despite these challenges, his strategic direction allowed Cupra to surpass newcomers like Hyundai’s Genesis, Polestar of Sweden, France’s DS, and even established brands like BMW’s Mini.
Under his leadership, SEAT experienced a consolidated turnover of €14.5 billion ($15.7 billion) and an operating profit of €633 million last year, which marked record highs for SEAT, a company formerly characterized by financial struggles. According to the finance chief, more than half of SEAT’s 2024 revenue came from Cupra alone.
The brand’s success is partly attributed to a strategic shift led by Jürgen Stackmann, who introduced SEAT to the SUV market with the Ateca in 2016. Griffiths, however, was instrumental in transforming SEAT into a profitable entity, greatly supported by Cupra’s growth.
In a LinkedIn post on Tuesday, Griffiths did not disclose his next career move after 37 years with the Volkswagen Group or indicate if he already had a new role planned. Notably, Stellantis chairman John Elkann is currently searching for a new CEO. Griffiths quoted David Bowie, writing, “I don’t know where I’m going from here, but I promise you it won’t be boring.”
Stellantis’ spokesperson declined to comment on the situation but reaffirmed that the company plans to announce its new CEO by the end of the current second quarter.
