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The Guardian - UK
The Guardian - UK
Business
Mark Sweney

Rolls-Royce share value down £1.5bn after CEO says he will quit

Rolls-Royce Warren East
Rolls-Royce logo
The surprise news of Warren East’s departure rattled investors in the aero-engine maker. Photograph: Toby Melville/Reuters

Rolls-Royce has announced its chief executive Warren East will stand down at the end of this year, shocking investors who wiped £1.5bn off the market value of the aero-engine maker.

The 60-year old, appointed CEO in 2015 to turnaround a business beleaguered by years of scandals and a string of profit warnings, said that “this is the right moment to look to the future”.

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