Rolls-Royce chief executive Warren East to stand down
Rolls-Royce Chief Executive, Warren East, has announced his decision to leave the company at the end of 2022.
The departure comes after a difficult year for the company, which has a base in Portsmouth, as the pandemic resulted in falling profits. The Rolls-Royce business model sees it paid per hour that its engines are in flight. With airplanes grounded those engines remained unused.
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In stating he was leaving the company Mr East, who has been in-post for eight years, said: “this is the right moment to look to the future.”
“We have improved our financial and operational performance, continued to deliver on our commitments and created a better balanced business capable of sustainable growth.
“We have achieved the benefits of our restructuring programme a year ahead of schedule, positioning Civil Aerospace to capitalise on increasing international travel.
“In Defence, we have seen growth driven by strong demand in all our markets and in Power Systems we achieved record order intake in the last quarter.”
On the chief executive’s decision to leave, chair Anita Frew said: “Warren is an exceptional leader and has set a pioneering vision and strategic direction for Rolls-Royce to lead the transition to net zero across our markets.
“He has shown incredible tenacity, steering the group through unprecedented times, and driven substantial cultural change throughout the organisation.”
A search for a successor is under way, she added.
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