MTU Aero Engines has announced today that chief executive Lars Wagner has decided not to extend his contract, which is set to conclude on December 31, 2025.
MTU said that Wagner is set to take on a new professional role outside of the company starting 2026.
“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,“ said Wangner. “Despite recent challenges, MTU is back on the path to success, as our latest results show.
The chairman of the MTU supervisory board, Gordon Riske, has accepted his decision with “great regret.”
Riske commented: “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.”
Wagner has held this current position for nearly two years and has been at MTU since July 2015. HIs new role is successor to Christian Scherer, CEO of Airbus' Commercial Aircraft business, which was announced by the airframe manufacturer today.
Airbus stated that Wagner has been selected to join the Airbus Executive Committee, after finalising his term at MTU, to become Scherer's successor.
“Christian and I are excited to have Lars Wagner, such a talented industry leader, coming back to the Airbus family in this key role,” said Airbus CEO Guillaume Faury. “Christian remains at the helm of the Commercial Aircraft business, supported by a great team, until the transition to Lars. Christian and I will continue to work closely together for the success of Airbus in the dynamic and complex environment we are operating in.”
“We have a clear plan for our Commercial Aircraft business and after 40 years at Airbus, I remain committed to the success of the Company,” said Christian Scherer. “I believe that Lars, whom I have known for a long time, is the natural choice for Airbus as my successor. I very much welcome his nomination and look forward to working with him in this future transition.”