Rolls-Royce Group plc: Board Changes

Wednesday, 25 July 2007

Rolls-Royce announced today the appointment of Mike Terrett as an executive director and as Chief Operating Officer, with effect from 1 September 2007.

John Cheffins CBE, will be retiring as Chief Operating Officer on 31 August 2007. He will be retiring from the Rolls-Royce Board and the Company on 30 September 2007, having served on the Board since March 2001.

Commenting on these changes, Simon Robertson, Chairman of Rolls-Royce, said: “We are delighted that Mike Terrett is joining the Board as Chief Operating Officer. His most recent position was President of the Civil Aerospace business and he has enjoyed an international career at Rolls-Royce in business leadership roles and as a widely respected engineer responsible for major projects.

“The Board is particularly grateful to John Cheffins for the very significant contribution he has made both as a director and over a 40-year career at Rolls-Royce. He has made a major contribution to the success of Rolls-Royce in the marketplace and to its operating performance.”

Following the appointment of Mike Terrett as Chief Operating Officer, Mark King will become President of the Civil Aerospace business.

There are no other details which require disclosure under paragraph 9.6.13 (2) to (6) of the Listing Rules.

  1. Mike Terrett is currently President – Civil Aerospace and responsible for its strategy and performance. Previously, he was Managing Director of Airlines and before that he was President and Chief Executive Officer of International Aero Engines (IAE) based in East Hartford, Connecticut, USA.

    Before moving to IAE, his career included senior positions in the development of new aero engine programmes. He was Project Director of RB211 and Trent 700 engines, and prior to that was deeply involved in development of the Trent 800 from design to entry into service, culminating in his appointment as Chief Engineer on that programme. He was a member of the Rolls-Royce team which won the 1996 MacRobert Award for Innovation in Engineering, and a year later was awarded the Royal Academy of Engineering silver medal for outstanding personal contribution to British engineering, in particular for his work on Trent engines. He is also a member of the Institution of Mechanical Engineers and Fellow of Royal Aeronautical Society.

    Mike Terrett joined the company in 1978 after graduating from the University of Durham with a degree in Engineering Science.
  2. Mark King is currently Chief Commercial Officer – Large Engines in the Rolls-Royce Civil Aerospace business.

    Previously, Mark was President and Chief Executive Officer of International Aero Engines (IAE) based in East Hartford, Connecticut, USA. The IAE appointment followed other positions in the Civil Aerospace business in Rolls-Royce, including Executive Vice President - Customer Business, Senior Vice President, Aftermarket and Senior Vice President, North Asia. Earlier in his career, he also held positions in engineering and manufacturing and has been a board member of Rolls-Royce overhaul joint ventures (TAESL in Texas and HAESL in Hong Kong).

    Mark King joined the company in 1986 after graduating at the University of Cambridge with a degree in Mathematics.
  3. The current membership of the Rolls-Royce board is:
    Simon Robertson (Chairman)
    Sir John Rose (Chief Executive)
    Peter Byrom (Non-executive director, Senior Independent Director and Chairman of the Audit Committee)
    John Cheffins (Chief Operating Officer)
    Iain Conn (Non-executive director)
    Professor Peter Gregson (Non-executive director)
    James Guyette (President and Chief Executive Officer of Rolls-Royce North America Inc.)
    John Rishton (Non-executive director)
    Andrew Shilston (Finance Director)
    Colin Smith (Director – Engineering and Technology)
    Ian Strachan (Non-executive director) and
    Carl Symon (Non-executive director and Chairman of the Remuneration Committee).
  4. Rolls-Royce also formed a new International Advisory Board (IAB) in 2007 to advise the Group on emerging political, business and economic trends. Membership of the IAB is:
    Lord Powell of Bayswater (Chairman) - UK
    Bernard Duc - France
    Sir Rod Eddington - Australia
    Boris Fedorov - Russia
    Dr Fan Gang - China
    Carla Hills - USA
    General Sir Mike Jackson - UK
    Mustafa Koc - Turkey
    Taizo Nishimuro - Japan
    Lubna Olayan - Middle East
    Eduardo Serra - Spain
    Ratan Tata - India
    Matthias Wissmann - Germany
    Lee Hsien Yang - Singapore
    Ernesto Zedillo - Mexico
  5. Further information about the IAB members can be found on page 42 of the Annual Report 2006.

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