KMW Miffed At Nexter’s New CEO Appointment

German armored vehicle manufacturer Krauss-Maffei Wegmann is not happy with French Nexter’s decision to appoint a new chief executive even as both the companies are planning for a merger.

French financial daily, Les Echos Sunday reported Sunday that KMW opposes the appointment of Stephane Mayer as is new CEO replacing Philippe Burtin as the joint CEO.

KMW was expecting Philippe to run the new company after the merger along with its CEO Frank Haun, the news daily reported.

Both the companies have been in talks for a merger for over a year. The merger is expected to combine the Leclerc and Leopard tank brands.