(Reuters) – German engine manufacturer MTU Aero Engines 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 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)
