Rolls-Royce’s restructuring continues with a new senior management structure announced.
The current divisional structure of Aerospace and Land & Sea will end, removing a layer of senior management. From 1 January 2016, Rolls-Royce will operate as five market facing businesses, with the presidents of Civil Aerospace, Defence Aerospace, Marine, Nuclear and Power Systems reporting directly to the chief executive. Mikael Makinen will continue as president of the marine division.
The new structure is part of a restructuring designed to make annual cost savings of up to $250m by 2017.
Warren East, chief executive, commented: “The changes we are announcing today are the first important steps in driving operational excellence and returning Rolls-Royce to its long-term trend of profitable growth.”