This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.guardian.co.uk/business/2013/feb/14/rolls-royce-new-chairman-ian-davis
The article has changed 4 times. There is an RSS feed of changes available.
| Version 2 | Version 3 |
|---|---|
| Rolls-Royce appoints new chairman | Rolls-Royce appoints new chairman |
| (7 months later) | |
| Rolls-Royce has appointed the former head of McKinsey as chairman, ending the eight-year tenure of Sir Simon Roberston. | Rolls-Royce has appointed the former head of McKinsey as chairman, ending the eight-year tenure of Sir Simon Roberston. |
| Ian Davis, who held the posts of chairman and global managing director at the management consultancy and also as a non-executive director of BP and Johnson & Johnson, joins the board of the Derby-based manufacturer as a non-executive director in March and takes over from Robertson on 2 May. | Ian Davis, who held the posts of chairman and global managing director at the management consultancy and also as a non-executive director of BP and Johnson & Johnson, joins the board of the Derby-based manufacturer as a non-executive director in March and takes over from Robertson on 2 May. |
| One of Davis's first tasks at Rolls-Royce could be steering the organisation through the kind of corporate quagmire McKinsey is used to navigating, with the group facing the threat of a corruption inquiry on both sides of the Atlantic. | One of Davis's first tasks at Rolls-Royce could be steering the organisation through the kind of corporate quagmire McKinsey is used to navigating, with the group facing the threat of a corruption inquiry on both sides of the Atlantic. |
| Rolls-Royce has handed an internal investigation into allegations of corruption in Asian markets to the Serious Fraud Office (SFO), which has yet to decide whether to launch a formal inquiry. | Rolls-Royce has handed an internal investigation into allegations of corruption in Asian markets to the Serious Fraud Office (SFO), which has yet to decide whether to launch a formal inquiry. |
| The US Department of Justice has also been made aware of the allegations, which include claims from a former Rolls-Royce employee that Tommy Suharto, the son of the former Indonesian president, was paid $20m (£12m) by Rolls-Royce and given a car to persuade the Garuda airline to procure Trent 700 engines. | The US Department of Justice has also been made aware of the allegations, which include claims from a former Rolls-Royce employee that Tommy Suharto, the son of the former Indonesian president, was paid $20m (£12m) by Rolls-Royce and given a car to persuade the Garuda airline to procure Trent 700 engines. |
| John Rishton, Rolls-Royce chief executive, said Davis's appointment had no link to the corruption allegations. "We will cooperate fully with the SFO, whoever the chairman is. It's not a case of 'get the right chairman and it will be all right.'" Rishton added that Davis's experience of global businesses, and of running a business in his own right at McKinsey, was key to the appointment. | John Rishton, Rolls-Royce chief executive, said Davis's appointment had no link to the corruption allegations. "We will cooperate fully with the SFO, whoever the chairman is. It's not a case of 'get the right chairman and it will be all right.'" Rishton added that Davis's experience of global businesses, and of running a business in his own right at McKinsey, was key to the appointment. |
| Davis's appointment was announced alongside full-year results that showed an increase in underlying pre-tax profits by nearly a quarter to £1.4bn, on underlying revenues – accounting for exchange rate fluctuations – that rose 8% to £12.2bn. | Davis's appointment was announced alongside full-year results that showed an increase in underlying pre-tax profits by nearly a quarter to £1.4bn, on underlying revenues – accounting for exchange rate fluctuations – that rose 8% to £12.2bn. |
| Rolls-Royce's main earner is the manufacturing and servicing of civil aircraft engines such as the Trent 900 that powers the A380 superjumbo. | Rolls-Royce's main earner is the manufacturing and servicing of civil aircraft engines such as the Trent 900 that powers the A380 superjumbo. |
| The Rolls-Royce statement gave no update on the SFO situation, reiterating that an outcome of the process "could include the prosecution of individuals and of the company". | The Rolls-Royce statement gave no update on the SFO situation, reiterating that an outcome of the process "could include the prosecution of individuals and of the company". |
| The company recently appointed Lord Gold, who is investing cash-for-access allegations within the Conservative party, to review its anti-corruption procedures. | The company recently appointed Lord Gold, who is investing cash-for-access allegations within the Conservative party, to review its anti-corruption procedures. |
| Davis said: "I am looking forward greatly to joining Rolls-Royce. Sir Simon has led the board with distinction during the past eight years. I am extremely excited by the prospect of building on the firm foundations that have been laid". | Davis said: "I am looking forward greatly to joining Rolls-Royce. Sir Simon has led the board with distinction during the past eight years. I am extremely excited by the prospect of building on the firm foundations that have been laid". |
| Rolls-Royce said on Thursday that its order book had grown by 4% to more than £60bn. | Rolls-Royce said on Thursday that its order book had grown by 4% to more than £60bn. |
| Our editors' picks for the day's top news and commentary delivered to your inbox each morning. |