Rolls-Royce says chief executive to leave
British engine maker Rolls-Royce said Thursday that chief executive John Rose will step down next year after 14 years in charge and will be replaced by the current boss of Dutch food retailer Ahold.
"Rolls-Royce announced today that Sir John Rose will retire from the company at the end of March 2011," the group said in a statement.
"He will be succeeded by John Rishton, currently chief executive of the Dutch retail group Royal Ahold."
Rose, 57, joined the civil aerospace and defence company in 1984 and has been chief executive since 1996.
Group chairman Simon Robinson paid tribute to his "leadership, strategic vision and tenacity" during his time at the helm.
Rishton, 52, a non-executive director of Rolls-Royce since 2007, was also previously chief financial officer at British Airways for four years.
© 2010 AFP