Rolls-Royce has named Warren East as the successor to current chief executive (CEO) John Rishton, who is scheduled to retire on 2 July.
A former CEO of ARM Holdings until 2013 East has served as a non-executive director at the engineering firm since January last year and was picked for his track record of commitment to innovation and R&D.
Ian Davis, chairman of Rolls-Royce, said: “He (East) is an engineer by training; he has a deep understanding of technology and of developing long-term partnerships. He has proven strategic and leadership skills in a global business and a strong record of value creation.”
East added: “Rolls-Royce is well positioned in growth markets, with world class engineering skills and a proud record of innovation and delivery.”
Outgoing CEO Rishton concluded: “After 14 years as a CEO and CFO I have decided it is 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. I am sure Warren will lead the business successfully through the next phase and I wish him and everyone at Rolls-Royce well.”
East also serves as a non-executive director on the boards of BT, De La Rue, Dyson, Micron Inc. and Digital Catapult, with his intention to stand down from all but one of these roles.