David Maloney is to take over as chief executive officer for Volkswagen Financial Services UK (VWFS) on May 1.
He replaces Graham Wheeler who has made the decision to pursue another opportunity within the automotive finance industry.
Maloney (pictured) will be working with Albert van den Bergh, chief financial officer, in developing VWFS (UK) LTD and its products and services for the UK market.
He joins with over 35 years’ experience in the industry, and previously worked at VWFS (UK) as business development director.
In 2011 he was promoted to joint managing director of VWFS Australia and since 2014 has been head of region Europe West for VWFS where he oversaw the markets in Norway, Sweden, the Netherlands, Belgium, Portugal and Ireland.
He said: “VWFS has seen significant growth culminating in 2015 witnessing almost 373,000 new finance contracts, over 390,000 new insurance and aftersales contracts and a total contract portfolio of over 850,000 customers.
“Our customers’ needs are changing and are demanding more novel approaches to car ownership. This is a truly exciting time for the automotive industry as traditional business models are changing due to internet-enabled technology and services. I’m delighted to be leading the company with Albert and the rest of the board through its next period of growth.”