United Kingdom

Rolls-Royce Holdings PLC (RR.L)

RR.L on London Stock Exchange

15 Dec 2017
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8.00 (+0.97%)
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Latest Key Developments (Source: Significant Developments)

Rolls-Royce says needs to retain a degree of flexibility regarding dividend
Tuesday, 14 Feb 2017 

Rolls-royce : Ceo says needs to retain a degree of flexibility, hence dividend unchanged . Cfo says board carefully reviewed dividend, wasn't appropriate to raise dividend given cash demands at this time . Cfo says hedge fund impact is purely accounting adjustment, will unwind over time . Ceo says continuing to co-operate with sfo, but settlement draws line in sand, company now looking forward . Ceo says will position business for long-term, not looking at anything revolutionary . Ceo says portfolio is "broadly correct", could restructure or dispose of some underperforming units . Ceo says wants to continue to operate under european air safety rules Further company coverage: [RR.L] (Reporting By London Bureau) ((uk.online@reuters.com; +44 20 7542 7717;)).  Full Article

Rolls-Royce says wins $1.7 bln order from Singapore Airlines
Thursday, 9 Feb 2017 

Rolls-Royce Holdings Plc : Rolls-Rolls-Royce wins $1.7 billion order from Singapore Airlines for Trent 1000 engines . Rolls-Royce has won a $1.7bn order from Singapore Airlines for trent 1000 engines to power 19 Boeing 787 Dreamliner Aircraft .Says order announced today will result in an increase in group's order book of $900 million.  Full Article

Daily Mail says CFO Stephen Daintith resigned
Thursday, 22 Sep 2016 

Daily Mail And General Trust Plc : Directorate change cfo resignation . Stephen Daintith, CFO of company, has resigned to take up role of CFO at Rolls-Royce Holdings Plc . Stephen will continue to provide support to DMGT as cfo pending appointment of his replacement . Board has commenced process to identify appropriate candidates. .Date of his departure from company will be subject of a separate announcement.  Full Article

Rolls-Royce Holdings PLC to cut more senior management positions - Reuters News
Thursday, 10 Mar 2016 

Rolls-Royce Holdings PLC:Rolls-Royce, the British engineering company under pressure after consecutive profit warnings, said on Thursday it would shed more senior managers as part of its turnaround plan.The company, which makes engines used to power aeroplanes and ships, is reducing its senior manager count by 150 under plans revealed to staff on Thursday, on top of the 50 positions it has said it would cut in the last four months.Warren East, brought in as chief executive in July to help revive the company, announced a restructuring programme last November with the aim of saving between 150 million pounds and 200 million pounds a year, streamlining senior management and improving decision making.Before the restructuring started, Rolls-Royce had about 2,000 senior managers, and the review of that group is still ongoing."Our ongoing transformation programme is designed to remove complexity and reduce cost by simplifying our processes as well as our structure," a spokeswoman for the company said.  Full Article

Rolls-Royce Holdings PLC CEO to announce culling of senior managers -FT - Reuters
Thursday, 28 Jan 2016 

Rolls-Royce Holdings PLC:Rolls-Royce Holdings PLC's RR.L Chief Executive will on Friday announce job cuts from his 2,000 strong senior manager team, the Financial Times reported - RTRS.Most of the "few dozen" job cuts will affect those who report directly to CEO Warren East or his main executive team, the FT reported - RTRS.Warren East faces intense pressure to reverse the fortunes of the British jet-engine maker, not only because of 4 profit warnings - RTRS.but also because U.S. activist investor ValueAct, which has amassed a 10% stake in the company, is pressing for a board seat and divestment of the company's marine engine business - RTRS.Some of Rolls-Royce's biggest investors have indicated that they would welcome ValueAct as a board member, although others remain opposed, the FT said. - RTRS.In November last year, East said it was a matter for the board to decide whether the hedge fund would be given a seat. - RTRS.San Francisco based ValueAct has been pushing the company to focus on its main aero-engine business, which contributes about half the firm's profits - RTRS.  Full Article


Top U.S. official calls for clarity on post-Brexit aviation safety

BRUSSELS The United States is urgently calling for clarity on which aviation safety regime the British aerospace industry will operate under after the country leaves the European Union, to avoid increased certification costs for airlines and manufacturers.