HERNDON, Va. — Volkswagen Group of America Inc. has named Horst Meima, 47, president and CEO of VW Credit Inc. (VCI), effective Jan. 1, 2016.

Meima will oversee all functions of VW Credit Inc., the captive finance company which services Volkswagen, Audi and Ducati customers, authorized automotive dealers and their affiliated stores as Volkswagen Credit and Audi Financial Services. He will also serve as chairman of the board for VW Credit Canada Inc.

Most recently, Meima served as executive vice president and CFO of VCI. He brings more than 20 years of experience within the company, having served as president and CEO of former Volkswagen Bank USA, vice president of sales and marketing, and president and CEO of VW Credit Canada Inc.

Meima holds a master's degree in business administration from the University of California, Los Angeles's Anderson School of Management, and a bachelor’s degree in economics from Colorado State University.

Meima succeeds Dr. Christian Dahlheim, who will take on the role of board member for sales and marketing of Volkswagen Financial Services AG in Braunschweig, Germany, effective January 1, 2016.