Volkswagen Financial Services (UK) appoints Mike Todd as new chief executive officer

Prior to this, Todd held the position of chief commercial officer at VWFS UK, having joined the organisation in 2000.

Todd succeeds David Maloney, who is leaving VWFS after a successful 16 year international career.

The appointment comes at an important stage of the organisation’s development and he will play a key role in the future strategic growth of the business as it adapts to new regulations, technology advancement and a shift in consumer behaviour.

Todd will be working alongside Albert van den Bergh, chief financial officer at VWFS UK, in leading the UK approach to the new financial landscape and supporting the global vision for the business of being the key to customer mobility.

Todd said: “This is an exciting time for the motor finance industry as customer attitudes to car buying are clearly evolving with regards to the services they require from organisations such as ours. The UK remains one of the most important markets in Europe for automotive and motor finance and therefore I am delighted to be returning at this time.”

Volkswagen Financial Services employs nearly 16,000 people globally and has total assets of around €186.9 billion.