MTU Aero Engines CEO Lars Wagner Steps Down

MTU Aero Engines AG announced that CEO Lars Wagner will not extend his contract which ends on December 31, 2025. This decision was communicated to the Chairman of the Supervisory Board on October 30, 2024. Wagner plans to explore new professional opportunities outside the company. The Supervisory Board is set to address the succession planning in the near future.

MTU Aero Engines, headquartered in Munich, is renowned for its leadership in engine manufacturing, particularly in low-pressure turbines and high-pressure compressors. The company plays a significant role in the global market with its components present in about 30% of active aircraft worldwide. In 2023, MTU reported consolidated sales of 6.3 billion euros, supported by a workforce of over 12,000 employees.