FACC AG CEO Walter Stephan Removed From Management Board

Aerospace component manufacturer FACC AG announced on May 25, 2016, the immediate removal of its CEO, Walter Stephan. The company's supervisory board concluded that Stephan had significantly breached his duties, particularly in connection with an incident referred to as the "Fake President Incident".

The decision was made during a supervisory board meeting held on May 24. Robert Machtlinger has been appointed as the interim CEO of FACC AG.

FACC AG is a global technology company involved in the design, development, and production of advanced lightweight systems for aircraft. The company serves as a technology partner to major aircraft manufacturers, developing solutions for the aviation industry and for passenger and logistics drones. In the fiscal year 2025, FACC reported revenues of EUR 984.4 million.