MTU Executive Board to expand to four members

October 24, 2017
  • Dr. Rainer Martens will step down by year-end
  • Lars Wagner will take over as Chief Operating Officer
  • Peter Kameritsch will become the new Chief Financial Officer
Lars Wagner
Peter Kameritsch

MTU Aero Engines' Executive Board will be reorganized, with the number of members increasing from three to four. This has been decided by the company's Supervisory Board at its meeting on October 24. Effective January 1, 2018, Peter Kameritsch (48) has been appointed Chief Financial Officer and Chief Information Officer for a term of three years. Lars Wagner (42) will become the new Chief Operating Officer, also for a term of three years. Dr. Rainer Martens (56), who currently holds the position of Chief Operating Officer, will resign from his office by year's end at his own request.

MTU Chief Executive Officer Reiner Winkler has been Chief Financial Officer in addition to his other responsibilities since 2014. "By splitting the roles of CEO and CFO, MTU is now returning to a structure that is international common practice," explained Chairman of the Supervisory Board Klaus Eberhardt. "Peter Kameritsch has a strong, diverse background in finance, investor relations and corporate strategy and stands for a continuation of MTU's solid, earnings-oriented policy." Kameritsch joined the company in 1999 and currently holds the position of Senior Vice President, Finance. Among the company centers reporting to Kameritsch in his new capacity will also be information technology and investor relations.

Lars Wagner has been MTU's Executive Vice President, OEM Operations since July 2015; he had joined the company from Airbus. "Lars Wagner has broad management experience in the aviation industry, having held positions in development, production, strategy, and operations. He will see to it that MTU remains an industry leader in terms of technology and operations and continues to successfully ramp up the new engine programs," said Eberhardt. Responsibility for MRO Operations, which currently forms part of the Chief Operating Officer's organization, passes over to Michael Schreyögg, Chief Program Officer.

Dr. Rainer Martens steps down from MTU's Executive Board after a 12-year tenure. "During this time, Rainer Martens was instrumental in shaping major decisions and very successful in driving the company forward. Among his accomplishments, first and foremost, were MTU's contributions to the game-changing geared turbofan technology," said Eberhardt. "Today, with its unique know-how, MTU is a technological leader and excellently positioned for production to be managed in a highly efficient way. Martens has played a major part here, notably by modernizing the Munich site and successfully building MTU Aero Engines Polska."