R-R chief to step down

Sir John Rose will stand down as chief executive

Rolls-Royce has announced that Sir John Rose will stand down as the firm’s chief executive after more than 14 years.

Rose, who joined Rolls-Royce in 1984, will leave next March. His successor is former British Airways finance chief John Rishton. He is the boss of Dutch retail group Royal Ahold and has been a non-executive director at Rolls-Royce since 2007.

The company said Rose, 57, had established the group as a global player and created a platform to double revenues in the next 10 years. 

Business secretary Vince Cable said he had been a “tremendous” business leader.”