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Head of VW's Seat brand steps down

The head of Volkswagen AG's Spanish brand Seat is stepping down, the company announced Jan. 7.

Luca de Meo is stepping down as president of the brand in mutual agreement with the Volkswagen Group, according to a news release. Carsten Isensee, Seat's vice president for finance, will take over as Seat's president while performing his regular duties until further notice, the company said. The changes are effective Jan. 7.

In December 2019, Reuters reported that French carmaker Renault SA offered its CEO position to de Meo. Renault's previous chief executive, Thierry Bolloré, was fired in October 2019. Bolloré had taken the helm after former CEO Carlos Ghosn was arrested on charges of financial wrongdoings and resigned from the company.

Renault did not immediately respond to S&P Global Market Intelligence's request for comment.