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MTU Aero Engines AG: Supervisory Board extends contract for Michael Schreyögg
Munich, July 9, 2020 – The Supervisory Board of MTU Aero Engines AG has extended the contract for Chief Program Officer Michael Schreyögg for a further five years until the end of June 2026. The decision was made unanimously by way of written circular resolution. “We are pleased that we can continue in these difficult circumstances to rely on the many years of MTU and industry experience of Michael Schreyögg and his strong network with customers and partners,” said Supervisory Board Chairman Klaus Eberhardt.
Schreyögg has been a member of the MTU Executive Board since July 2013 and at the company since 1990. As Chief Program Officer he oversees program management, marketing and sales and the global service locations of MTU.
MTU Aero Engines is Germany’s leading engine manufacturer. The company is a technological leader in low-pressure turbines, high-pressure compressors, turbine center frames as well as manufacturing processes and repair techniques. In the commercial OEM business, the company plays a key role in the development, manufacturing and marketing of high-tech components together with international partners. Some 30 percent of today’s active aircraft in service worldwide have MTU components on board. In the commercial maintenance sector the company ranks among the top 3 service providers for commercial aircraft engines and industrial gas turbines. The activities are combined under the roof of MTU Maintenance. In the military arena, MTU Aero Engines is Germany’s industrial lead company for practically all engines operated by the country’s military. MTU operates a network of locations around the globe; Munich is home to its corporate headquarters. In fiscal 2019, the company had a workforce of more than 10,000 employees and posted consolidated sales of over 4.6 billion euros.