Rolls Royce Reveals Executive Team Changes

Rolls-Royce has revealed a series of changes to its executive team following the launch of a transformation programme last month.

Helen McCabe will be joining the board later this year as chief financial officer, bringing more than 25 years of experience in senior finance and performance management roles within multinational engineering organisations. McCabe is currently senior vice president, finance for the customer and products division of BP.

Tufan Erginbilgic, chief executive, said: “I look forward to welcoming Helen to my leadership team. Her track record of promoting rigorous financial discipline and experience of delivering performance management to achieve dramatic improvements will be invaluable as we move, at pace, to transform Rolls-Royce.

“I have experienced her abilities first-hand and her skillset will complement the existing capabilities of the executive team, contributing to Rolls-Royce delivering on its significant potential. I would also like to extend my thanks to Panos for his dedication to Rolls-Royce and support to me since my arrival.”

Panos Kakoullis will remain as chief financial officer and a member of the board until at least 31 August 2023.

Anita Frew, chair, said: “I would also like to extend the thanks of the whole board to Panos for his hard work. It has been my pleasure to work alongside him over the last 18 months as he has helped us deliver on the short-term commitments made to shareholders during the difficult times of the pandemic and return the business to positive free cash flow.

“We look forward to Helen joining and working with her and the rest of Tufan’s leadership team as we transform Rolls-Royce into a high-quality, sustainable, stronger business for employees, customers and shareholders.”

Rob Watson has been appointed as president – civil aerospace with immediate effect. He has spent the past five years building the group’s capabilities in electric aviation.

Watson joined the executive team last year as president – Rolls-Royce Electrical. He has been with Rolls-Royce for 13 years and previously held leadership positions in defence aerospace as well as working as chief of staff to the chief cxecutive.

As previously announced, Chris Cholerton is moving from his position as president – civil aerospace to become group president, having successfully led the civil aerospace business.

As part of this role, Cholerton will take on executive responsibility for the group’s nuclear operations. This includes Rolls-Royce Submarines, and the role of interim CEO of Rolls-Royce SMR while a search is conducted for a successor to Tom Samson who, it has been agreed, will be leaving with immediate effect.

Adam Riddle has been named as president – defence, and chairman and chief executive – Rolls-Royce North America with immediate effect.

Riddle has spent almost a decade in defence and most recently led its global services operations.

Erginbilgic added: “I would like to congratulate both Rob and Adam as they take up their new roles. Both are highly experienced leaders and will bring renewed energy and a determination to succeed to civil aerospace and defence.

“Their appointments are also evidence of the pipeline of senior talent which exists within Rolls-Royce. With the leadership changes announced today, we are acting at pace and gaining the momentum we need to transform Rolls-Royce.

“Together, my leadership team has a winning mindset, strong strategic alignment and a shared ambition to make Rolls-Royce a company that delivers for all stakeholders.”

Source: www.insidermedia.com