Rolls-Royce Holdings PLC (LSE:RR.) has announced a raft of changes to its board and executive team as part of chief executive Tufan Erginbilgic's “transformation programme” announced last month.
Helen McCabe will be joining the board as CFO later this year, bringing with her more than 25 years of experience in finance and performance management, the FTSE 100-listed company said in a statement.
Currently, McCabe is senior vice president, of finance for the customer & products division of BP PLC, which runs the company’s customer-focused business.
“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,” noted Erginbilgic in the statement.
Panos Kakoullis will remain as CFO until at least 31 August 2023 to assist with the delivery of the group’s half-year performance.
Rob Watson, who joined the executive team as president of Rolls-Royce Electrical last year, has been named president of Civil Aerospace with immediate effect.
The company said he brings innovation, commercial discipline and a proven ability to develop and maintain customer and supplier relationships.
Chris Cholerton, as previously announced, will be moving from president of Civil Aerospace to group president, where he will take on executive responsibility for the group’s nuclear operations.
Adam Riddle has been named president of Defence and chairman and CEO of Rolls-Royce America with immediate effect, having nearly a decade in defence where he played a “pivotal” role in the company’s success in clinching key contracts, it said.
"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,” Erginbilgic said.