Cem Peksaglam, chief executive of Munich-based Wacker Neuson, is leaving the company. The company said in a written statement that Peksaglam, 49, had informed the supervisory board that, “following the successful realignment of the group’s strategy, he does not intend to renew his contract as he has decided to pursue new endeavors”. Peksaglam’s six-year contract expires in August and the company said it will announce his successor “in due course”.