Press release
Lars Wagner will not renew his term as CEO
| Wagner decided to seize a new professional opportunity starting 2026
| Supervisory Board will address the issue of succession in the near future
Munich, October 30, 2024 | Today, the CEO of MTU Aero Engines AG, Lars Wagner (49), informed the Supervisory Board of his decision not to extend his contract, which is set to conclude on December 31, 2025. He will take on a new professional role outside of the company starting 2026. The Chairman of the Supervisory Board, Gordon Riske, has accepted his decision with great regret.
Lars Wagner: “As an aerospace enthusiast, I will be leaving my professional home MTU after ten years and taking on a new role in the industry. MTU is a successful company with a long tradition, a passion for innovation and excellent prospects for the future. Despite recent challenges, MTU is back on the path to success, as our latest results show. Nevertheless, I have decided to seize a new professional opportunity starting 2026. In the time remaining, I will continue to focus on further improving MTU’s operating and financial performance together with my colleagues and to secure the basis for a successful future with profitable growth.“
Gordon Riske: “Lars Wagner has set very positive accents with enormous commitment in his various functions at MTU Aero Engines AG so far, in particular since January 2023 as CEO. I have taken note of his decision to leave the company upon fulfilling the current contract with great regret. The Supervisory Board will address the issue of succession in the near future.”
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About MTU Aero Engines
MTU Aero Engines AG is Germany’s leading engine manufacturer. The company is a technological leader in low-pressure turbines, high-pressure compressors, turbine center frames as well as manufacturing processes and repair techniques. In the commercial OEM business, the company plays a key role in the development, manufacturing and marketing of high-tech components together with international partners. Some 30 percent of today’s active aircraft in service worldwide have MTU components on board. In the commercial maintenance sector the company ranks among the top 3 service providers for commercial aircraft engines and industrial gas turbines. The activities are combined under the roof of MTU Maintenance. In the military arena, MTU Aero Engines is Germany's industrial lead company for practically all engines operated by the country’s military. MTU operates a network of locations around the globe; Munich is home to its corporate headquarters. In fiscal 2023, the company had a workforce of more than 12,000 employees and posted consolidated sales of 6.3 billion euros.