ROLLS-ROYCE HOLDINGS PLC: Rolls-Royce Announces Retirement of Mike Terrett, COO
ROLLS-ROYCE HOLDINGS PLC: Rolls-Royce Announces Retirement of Mike Terrett, COO 09 November 2012
ROLLS-ROYCE ANNOUNCES RETIREMENT OF MIKE TERRETT
CHIEF OPERATING OFFICER
Rolls-Royce announced today that Mike Terrett, Chief Operating Officer, has decided to retire at the end of the year. Mike has worked for Rolls-Royce for 34 years and has been instrumental in shaping the current success of the business. Mike, an engineer, started as a graduate apprentice in Derby in 1978. He has succeeded in many roles since then, including as the Chief Engineer on the Trent 800 programme, President and CEO, International Aero Engines (IAE) and President Civil Aerospace. He was appointed Chief Operating Officer and a member of the Rolls-Royce Board in 2007.
John Rishton, CEO of Rolls-Royce said: "I would like to thank Mike for his leadership, the enormous contribution he has made to Rolls-Royce over many years and for the personal support he has given to me.
"Thank you Mike: enjoy a long, healthy and happy retirement".
For further information, please contact:
Simon Goodson Director - Investor Relations Rolls-Royce plc Tel: +44 (0)20 7227 9237 firstname.lastname@example.org
Josh Rosenstock Director of External Communications Rolls-Royce plc Tel: +44 (0)20 7227 9163 email@example.com
Notes to Editors:
1. Rolls-Royce is a world-leading provider of power systems and services for use on land, at sea and in the air, and has established a strong position in global markets - civil aerospace, defence aerospace, marine and energy.
2. As a result of this strategy, Rolls-Royce has a broad customer base comprising more than 500 airlines, 4,000 corporate and utility aircraft and helicopter operators, 160 armed forces, more than 4,000 marine customers, including 70 navies, and energy customers in more than 80 countries.
3. Annual underlying revenue was £11.3 billion in 2011, of which more than half came from the provision of services. The firm and announced order book stood at £60.1 billion at 30 June 2012, providing visibility of future levels of activity.
4. Rolls-Royce employs over 40,000 people in offices, manufacturing and service facilities in over 50 countries. Over 11,000 of these employees are engineers.
5. In 2011, Rolls-Royce invested £908 million on research and development, two thirds of which had the objective of further improving the environmental performance of its products, in particular reducing emissions.
6. Rolls-Royce supports a global network of 28 University Technology Centres, which connect the company's engineers with the forefront of scientific research.
7. The Group has a strong commitment to apprentice and graduate recruitment and to further developing employee skills.
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