Bentley has appointed Joerg Mull, executive vice president of finance at Volkswagen Group in China, as its new finance chief, effective September 1.

Mull will sit on Bentley’s management board with responsibility for finance, IT and business development, Bentley said in a statement. The 48-year-old executive replaces Jan-Henrik Lafrentz, who will move to VW’s MAN truck unit.

Mull, an economist by training, joined VW Group in 2002 with responsibility for the pricing of product projects, before being promoted to head of development controlling at the group in 2006. In 2007, he took up his current role as head of finance at Volkswagen in China.

VW-owned Bentley is currently undergoing a period of expansion as the ultraluxury brand readies for the launch of an SUV in 2016 and the possibility of further extensions to the lineup after that.

Last month the company stated they may add a fifth model after the upcoming SUV that could either be a two-seat sports car or a model that would slot between the Continental GT coupe and the more expensive Mulsanne sedan.

Bentley’s six-month global deliveries rose 23 percent to 5,254, putting the company on course for another record sales year.

The company has said it expects global sales to reach 15,000 in 2018, backed by strong demand for the SUV.

Bentley posted an operating profit of €168 million last year, up 67 percent from 2012, the best result its 95-year history.