German engine maker MTU Aero Engines names Johannes Bussmann as CEO (updated)

MTU Aero Engines AG

17/12/2024 19:31

(Adds context, details throughout)
       Dec 17 (Reuters) - 
    German engine manufacturer MTU Aero Engines  MTXGn.DE  named
Johannes Bussmann on Tuesday to replace CEO Lars Wagner when his
term ends on Dec. 31, 2025.
  
        Wagner informed the board in October that he will not be
extending his mandate, as Airbus  AIR.PA  
    announced
     he would become head of plane-making for the world's
largest aircraft manufacturer in 2026.
  
        Wagner, a former Airbus industrial manager, has held
several MTU positions during a turbulent period dominated by a
crisis in production and availability of new Geared Turbofan
engines made for Airbus.
  
        Last month, MTU 
    estimated
     2025 sales of 8.3 billion euros ($8.71 billion) to 8.5
billion euros ($8.92 billion), and adjusted earnings before
taxes to increase to the low- to mid-teen percentage range.
  

($1 = 0.9531 euros)

 (Reporting by Harshita Meenaktshi in Bengaluru; Editing by
David Goodman and Richard Chang)
 ((HarshitaMeenaktshi.R@thomsonreuters.com))