German arms manufacturer in damage control mode after PR disaster and stock slump

German arms manufacturer in damage control mode after PR disaster and stock slumpListen(3 min)Listen(3 min)German arms manufacturer Rheinmetall XE:RHM is struggling to contain a public relations disaster that has developed in the wake of an interview conducted with its chief executive officer, Armin Papperger, last week.The stock has plummeted around 10% since Papperger made derisive remarks about Ukrainian drone technology that has proved so successful in thwarting the Russian army, inflicting heavy losses on its military, both in terms of equipment and manpower. His widely circulated March 27 interview in The Atlantic attracted fierce criticism from many quarters.About the AuthorJules Rimmer is a markets reporter in London.Rimmer spent more than 30 years as a trader and stockbroker in financial markets, starting at Salomon Brothers in the Liar's Poker era, taking in ING Barings, Jefferies and ending it in emerging markets at Investec. He hung up his headset and pivoted to journalism in 2021.A Dow Jones CompanyCopyright © 2026 MarketWatch, Inc. All rights reserved.