Rheinmetall CEO Papperger Cashes In After 1,200% Rally

Rheinmetall AG Chief Executive Officer Armin Papperger, who has overseen an almost 1,200% surge in the shares since taking the helm in January 2013, is pocketing profits from a rally fueled by demand for armaments in Europe.

Papperger sold shares worth around €5 million ($5.42 million) on March 19, the company said in a statement late on Tuesday, when the stock closed at a record €487.80. He disposed of the stock at an aggregate price of €474.06 apiece, equivalent to about 10,350 shares.