Mark Morris to succeed Andrew Shilston as Finance Director of Rolls-Royce
Thursday, 22 September 2011
Rolls-Royce announced today that Mark Morris, currently Group Treasurer, will become Finance Director and join the Board with effect from 1 January 2012. He will succeed Andrew Shilston who is retiring from the company.
John Rishton, Chief Executive of Rolls-Royce welcomed his promotion:
“I am looking forward to working closely with Mark. He has a deep knowledge of Rolls-Royce coupled with an exemplary track record of business achievement. Andrew Shilston has been an outstanding Finance Director, who has played an important part in the success of Rolls-Royce. I am extremely grateful for the support and wise counsel he has given me and I wish him well in his future endeavours.”
Mark Morris responded: “I am excited about my new role and delighted that the Board has put its confidence in me. Andrew Shilston has been a great mentor and will be a tough act to follow. I very much look forward to joining the Board and contributing to the company’s future success.”
Andrew Shilston joined Rolls-Royce as Finance Director in 2002. He said:
“Rolls-Royce is a great company full of talented people. It has a culture of collaboration and a deep commitment to excellence. I would like to thank everyone who has made my time at Rolls-Royce so exhilarating and wish them well for the future”.
In relation to Mark Morris’s appointment, there are no disclosures to be made in accordance with Listing Rule 9.6.13R.
- Rolls-Royce is a world-leading provider of power systems and services for use on land, at sea and in the air, and has established a strong position in global markets - civil aerospace, defence aerospace, marine and energy.
- As a result of this strategy, Rolls-Royce has a broad customer base comprising more than 500 airlines, 4,000 corporate and utility aircraft and helicopter operators, 160 armed forces, more than 2,500 marine customers, including 70 navies, and energy customers in nearly 120 countries, with an installed base of 54,000 gas turbines.
- Annual underlying revenues were £10.8 billion in 2010, of which more than half came from the provision of services. The firm and announced order book stood at £61.4 billion at 30 June 2011, providing visibility of future levels of activity.
- Rolls-Royce employs over 39,000 skilled people in offices, manufacturing and service facilities in over 50 countries. Over 11,000 of these employees are engineers.
- In 2010, Rolls-Royce invested £923 million on research and development, two thirds of which had the objective of further improving the environmental performance of its products, in particular reducing emissions.
- Rolls-Royce supports a global network of 28 University Technology Centres, which connect the company’s engineers with the forefront of scientific research.
- The Group has a strong commitment to apprentice and graduate recruitment and to further developing employee skills.