Rolls Royce auto marque Dan Kitwood, Getty Images

Rolls-Royce Introduces New CEO, Days After Record Deal

Warren East will climb to CEO at Rolls-Royce, which recently won a $9.2 billion contract from Emirates Airlines to supply and maintain superjumbo engines.

LONDON - Rolls-Royce, the British maker of aircraft engines, introduced Warren East as its new chief executive on Wednesday, just days after announcing a record deal.

John Rishton will retire from the top post on July 2 to be replaced by East, a non-executive director at the company and former chief executive of British semiconductor manufacturer ARM Holdings.

"I am delighted to be appointed as chief executive of Rolls-Royce," East said in a statement. "It is well positioned in growth markets, with world-class engineering skills and a proud record of innovation and delivery."

Rishton said that after 14 years as a chief executive and chief financial officer, it was "time for a change in lifestyle. … We have made good progress transforming Rolls-Royce and have a strong team in place. While there is clearly more to do, the company is better placed to face the future." 

Rolls last week said it had won a contract from Dubai's Emirates Airline worth a record $9.2 billion to supply and maintain Trent 900 engines for 50 Airbus A380 superjumbos.

The deal is the biggest ever for Rolls-Royce and one of the larger export orders for a UK-based company. It was a major boost after the company slashed its earnings forecasts in February, blaming tumbling oil prices that have hurt revenues at Rolls' marine offshore division.

Copyright Agence France-Presse, 2015

TAGS: The Economy
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