Rolls-Royce Holdings plc Rolls-Royce appoints Stephen Daintith as CFO (5048K)
September 22 2016 - 2:01AM
UK Regulatory
TIDMRR.
RNS Number : 5048K
Rolls-Royce Holdings plc
22 September 2016
22 September 2016
ROLLS-ROYCE APPOINTS STEPHEN DAINTITH
AS CHIEF FINANCIAL OFFICER
Rolls-Royce announced today that Stephen Daintith has been
appointed Chief Financial Officer and as an executive director of
Rolls-Royce Holdings plc. Stephen will take up his new role in
2017, succeeding David Smith who will leave Rolls-Royce after three
years to pursue other business interests. David will remain in post
into the New Year to ensure an effective transition.*
Stephen Daintith is currently Chief Financial Officer of Daily
Mail & General Trust plc. Previously he was employed by News
International as Chief Financial Officer and Chief Operations
Officer of Dow Jones & Co. His earlier career was spent working
internationally in a number of senior positions at British American
Tobacco, also at Forte, the Civil Aviation Authority and
PriceWaterhouse Coopers.
Stephen Daintith, said: "I am extremely excited to be joining
one of the world's great engineering companies. Rolls-Royce has
built powerful positions in expanding global markets and has
outstanding prospects for long-term growth. I am looking forward to
playing my part in ensuring the growth which lies ahead is
increasingly profitable and cash generative. Warren is driving a
transformation programme that I entirely support. I am proud and
pleased to be joining him on the Board to deliver the next stage of
this business critical process."
Warren East, Rolls-Royce, Chief Executive, said: "I am delighted
to welcome Stephen to Rolls-Royce as Chief Financial Officer and as
a Board colleague. His deep understanding of international business
and his record of achievement in change management are particularly
relevant to Rolls-Royce as we build our business and respond to the
growing global requirement for our technology.
"I would like to thank David Smith for his valuable support over
the past three years. David has made an important contribution to
restoring confidence in the business, improving financial systems
and delivering the early stages of our transformation. I and the
rest of the Rolls-Royce team wish him every success in the
future."
Stephen Daintith is currently an executive director of Daily
Mail & General Trust plc ('DMGT') having been appointed to its
Board of directors in March 2011. He is a member of the Euromoney
Institutional Investor plc Audit Committee, and a non-executive
director of Zoopla Property Group plc, both of which are associated
companies of DMGT. Stephen will stand down from these positions
before joining Rolls-Royce. He will become a non-executive director
of 3i Group plc with effect from 1 October 2016, as previously
announced by 3i. There are no other details to disclose relating to
Stephen Daintith under paragraph 9.6.13 of the Listing Rules.
The remuneration details relating to David Smith required to be
made available under section 430 (2B) of the Companies Act 2006,
and the key elements of Stephen Daintith's remuneration, are
published on the Rolls-Royce website
www.rolls-royce.com/about/who-we-are/corporate-governance.aspx
Full details of Stephen Daintith's remuneration will be included
in the 2017 Directors' Remuneration Report.
*The effective date of Stephen Daintith's appointment, and the
precise date that David Smith will leave Rolls-Royce, are not yet
known and will be notified once decided.
About Rolls-Royce Holdings plc
1. Rolls-Royce's vision is to be the market-leader in high
performance power systems where our engineering expertise, global
reach and deep industry knowledge deliver outstanding customer
relationships and solutions. We operate across five businesses:
Civil Aerospace, Defence Aerospace, Marine, Nuclear and Power
Systems.
2. Rolls-Royce has customers in more than 120 countries,
comprising more than 400 airlines and leasing customers, 160 armed
forces, 4,000 marine customers including 70 navies, and more than
5,000 power and nuclear customers.
3. We have three common themes across all our businesses:
-- Investing in and developing engineering excellence
-- Driving a manufacturing and supply chain transformation which
will embed operational excellence in lean, lower-cost facilities
and processes
-- Leveraging our installed base, product knowledge and
engineering capabilities to provide customers with outstanding
service through which we can capture aftermarket value long into
the future.
4. Annual underlying revenue was GBP13.4 billion in 2015, around
half of which came from the provision of aftermarket services. The
firm and announced order book stood at GBP76.4 billion at the end
of 2015.
5. In 2015, Rolls-Royce invested GBP1.2 billion on research and
development. We also support a global network of 31 University
Technology Centres, which position Rolls-Royce engineers at the
forefront of scientific research.
6. Rolls-Royce employs over 50,000 people in more than 46
countries. Nearly 15,700 of these are engineers.
7. The Group has a strong commitment to apprentice and graduate
recruitment and to further developing employee skills. In 2015 we
employed 228 graduates and 277 apprentices through our worldwide
training programmes.
For further information, please contact:
Investors: Media:
John Dawson Richard Wray
Director - Investor Relations Director of External
Communications
Rolls-Royce plc Rolls-Royce plc
Tel: +44 (0)20 7227 9282 Tel: +44 (0)20 7227 9163
john.dawson@rolls-royce.com richard.wray@rolls-royce.com
www.Rolls-Royce.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
BOALFFILAIILFIR
(END) Dow Jones Newswires
September 22, 2016 02:01 ET (06:01 GMT)
Rolls-royce (LSE:RR.)
Historical Stock Chart
From Apr 2024 to May 2024
Rolls-royce (LSE:RR.)
Historical Stock Chart
From May 2023 to May 2024