Rheinmetall CEO - In the sights of the Russians: Who is Armin Papperger?
Armin Papperger: Personal Security Situation in Early 2023
When Armin Papperger was asked about his personal security situation during an interview with stern in early 2023, the Rheinmetall CEO responded calmly: Despite the ongoing Ukraine conflict, he receives "much less" threats than before, "because there has been a change of heart in many people." In the past, we were insulted and sometimes threatened. Now, people write and say to me: "Thank God we have you."
The societal standing of the defense conglomerate has significantly changed since the Russian invasion and Chancellor Olaf Scholz (SPD) declared a turning point. For a long time, Rheinmetall was no longer considered one of the "dirty children" of the German economy. Armin Papperger's security situation, however, presents itself differently in these days.
According to reports from the US news channel CNN, citing government sources in the US and Germany, plans for Papperger's assassination by the Russian government were discovered at the beginning of the year. The Rheinmetall CEO is described as an "obvious target" – after all, his company is one of the largest European suppliers of tank technology and artillery shells for Ukraine. The company has even opened a repair workshop for armored vehicles in western Ukraine. And Papperger himself does not hold back when it comes to condemning Russia's aggressive war.
Armin Papperger: Entire Professional Life at Rheinmetall
There was already an arson attack on Papperger's garden shed in April – the perpetrators were suspected to be left-wing extremists. Since then, Papperger is accompanied by personal security guards around the clock, and heavily armed police stand guard in front of the Düsseldorf corporate headquarters. Neither the company nor the CEO commented on the CNN report.
Born in 1963 in Niederbayern, Armin Papperger has spent his entire professional life at Rheinmetall. After completing his engineering studies – he did not have to join the military due to a plastered leg – he started in quality management in 1990. He quickly rose through the ranks in the defense division of the company, responsible for weapons and ammunition production from the mid-2000s, and later for the vehicle systems sector. In 2012, he was appointed to the board, and in the following year, he succeeded the long-term CEO Klaus Eberhardt.
Like the entire German arms industry, Papperger initially had to struggle with declining military budgets in the domestic market. However, with a focus on a stronger international competitive position, the CEO managed to fill the order books again, even if the civil automotive supply sector continued to falter.
The Rheinmetall stock, which cost around 40 Euros when Papperger took office, now costs over 500 Euros. Since 2023, Rheinmetall has been listed in the highest German stock index, the DAX. The company's success can primarily be attributed to the special conjuncture since the beginning of the Ukraine conflict.
Armin Papperger: Confident Spokesperson
"We had already made our homework before the invasion," Papperger once told Focus: "The politics and competition were quite late to the party." It is a typical Papperger statement, skillfully formulated to combine self-praise with criticism.
The Lower Bavarian Papperger has never shied away from expressing himself clearly against others. He is known as a highly self-confident speaker, gruff and pushy, one who occasionally shoves people. Yet, he now finds a hearing in politics, albeit not always so.
Shortly after the outbreak of the war, Papperger sent a list to the Defense Ministry – with everything his company could offer immediately: Tanks on wheels, tanks on tracks, military trucks. Total value: 42 billion Euro. "We could deliver quickly", he promised.
Not everyone in the defense industry liked Papperger's demeanor. Colleagues from the industry, holding back their hands, complained about the Rheinmetall boss, calling him a "sales beast" who now saw his big chance to manipulate the stock price – and thus only served to fuel the accusation that the turning point had triggered a gold rush in the defense industry. Frank Haun, CEO of the competitor KNDS, called him a market swindler like "Aale-Dieter from the Hamburg Fish Market". Papperger's reaction: "That doesn't bother me."
Hybrid Drive and Gender Quota
The Rheinmetall CEO sees himself more as a visionary business leader who modernizes the company and develops it from traditional defense technology – weapons, ammunition, tanks – towards modern technologies: drones, lasers, cybertechnology. Whether the company will be successful in these future fields remains to be seen.
Moreover, Papperger wants to shake off the image of a conventional arms manufacturer. He emphasizes the role of Rheinmetall as a "driver in heating technology, hydrogen technology, and electromobility" or speaks of CO2 reduction and tanks with hybrid drive. Proudly, they point to the fact that, starting in the fall, two out of three managing directors will be women: the gender quota has been exceeded.
Papperger, who is married and has two daughters, still has a contract with Rheinmetall until the end of 2026. With a broad chest, he recently told the FAZ: "We are making it possible for Germany to remain defense-capable at the moment." That drives him, not financial success, as he says – even if the CEO himself owns many shares and recently sold the latest share certificates for about 5 million Euro. "I have never looked at the money", he told the stern. "That has never interested me. I live relatively modestly."
In May, accompanied by security personnel, he already indicated that the security situation had changed: "There are people who don't like what I do", as quoted by the Manager Magazin. It sounded typically unperturbed.
After the discovery of plans for Armin Papperger's potential assassination by the Russian government due to Rheinmetall's significant role in supplying Ukraine with tank technology and artillery shells, the CEO continues to be a vocal critic of Russia's aggressive war. Despite the heightened security measures and threats, Papperger remains committed to modernizing Rheinmetall, transitioning from traditional defense technology towards modern technologies like drones, lasers, and cybertechnology.
Following the revelation of plans to target him, Armin Papperger's stance in the armament industry and his company's role in the Ukraine war have resulted in significant changes in the societal view of Rheinmetall. Once seen as one of the "dirty children" of the German economy, Rheinmetall has now gained a prominent position in the defense sector due to its efforts in supplying Ukraine with crucial military equipment.
