Pursuits
Rolls-Royce Culls Executives as East Responds to Profit Drop
- CEO takes direct charge of business divided into five units
- Aerospace head Wood is most prominent victim of streamlining
Rolls-Royce is responding to a push by planemakers Airbus Group SE and Boeing Co. to hasten aircraft deliveries as they work through backlogs that extend beyond 2021.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Rolls-Royce Holdings Plc Chief Executive Officer Warren East culled senior managers including the heads of the engine maker’s top two divisions, which will disappear in a shakeup intended to streamline decision-making following two profit warnings since he took over in July.
East will split London-based Rolls into five units, each reporting directly to him, in the first moves of a wholesale reorganization and cost-cutting program that will be extended in February, the supplier of turbines for Boeing Co. and Airbus Group SE jets said in a statement Wednesday.