CEO change at MTU Aero Engines AG

Munich May 4, 2022 Photo(s): By MTU
Lars Wagner

Reiner Winkler (60), CEO of MTU Aero Engines AG, will terminate his mandate for personal reasons at year-end 2022, in agreement with the Supervisory Board. This has been jointly determined in today's Supervisory Board meeting. "After more than twenty years in the management board of MTU, I now see the time has come to pass on my responsibilities. The company's expected new growth phase and the excellent succession plan at the top of both the Supervisory and the Management Board appear to be a very suitable point in time. I am extremely thankful that I was allowed to help shape the successful development of MTU over such a long period of time."

The Chairman of the Supervisory Board, Klaus Eberhardt, said: "For more than two decades, Reiner Winkler has contributed decisively to develop MTU into an excellently positioned company with outstanding perspectives for its future. The role of MTU in the worldwide aircraft engine business was essentially strengthened and extended under his leadership. For this, the Supervisory Board expresses its utmost respect and thanks to him." Winkler's CEO appointment would have ended on September 30, 2024.

The Supervisory Board has unanimously appointed Lars Wagner (46), Chief Operating Officer of MTU, as future CEO of MTU as of January 1, 2023. "Lars Wagner is an excellent successor at the top of MTU and has been a potential internal candidate for some time. With his comprehensive experience in both MTU and the industry, and his convincing personality, he will lead the company into the future, which will be characterized by far-reaching technological innovations," Eberhardt said.

Eberhardt will retire as Chairman of the Supervisory Board of MTU Aero Engines with tomorrow's Annual General Meeting on May 5, 2022. Gordon Riske has been proposed as his successor, and he has already accompanied the selection process for the CEO position. In the coming months, Riske and the further members of the Supervisory Board will shape the search for a female board member as a replacement for the vacant Executive Board position as well as help design the exact division of responsibilities at the Executive Board. According to legal requirements, a woman shall be nominated as the fourth member of MTU's Executive Board.