Favey, whose career with the VW Group stretches back to 2009 and includes stints at Volkswagen, Porsche and Skoda, will oversee product launches from the British luxury brand from June as it progresses with its Beyond100 electrification strategy.
Most recently, Favey oversaw the launch of the new Enyaq iV - Skoda's first bespoke electric production vehicle - and it was Favey who revealed to Autocar that future variants, including the already seen coupé version, are inbound.
Previously, Favey served as head of European sales for Volkswagen cars, before becoming CEO of Porsche Holding Salzburg - the largest car distributor in Europe.
Craft – who is retiring following a long career with the Volkswagen Group, during which he has served, separately, as UK director for Porsche, Volkswagen and Skoda - leaves Bentley as it embarks on a strategy to become fully electric in 2030.
Under the Beyond100 strategy, detailed late last year, Bentley will launch its first full EV in 2025 and reduce the environmental impact of its Crewe factory by 75% from 2010 levels within five years.
Bentley boss Adrian Hallmark said about Favey's appointment: "I am delighted to welcome Alain to the team. His experience and knowledge from the electrification of the Skoda brand will be extremely useful to us as we continue our journey to Beyond100.
"I would also like to thank Chris on behalf of everyone who has worked with him for his significant contribution to Bentley but also to the Volkswagen Group. I wish him all the very best in his retirement and I hope he will continue to enjoy the cars that have been such a huge part of his life and career.”