Rolls-Royce announces CFO succession | WebWire

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Rolls-Royce announces these days that Panos Kakoullis has been appointed as Chief Economic Officer and Government Director of Rolls-Royce Holdings plc, succeeding Stephen Daintith who is leaving Rolls-Royce, as earlier announced with our interim outcomes last calendar year.

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Panos has expended his career at Deloitte, which he joined as a graduate. He labored with a vast vary of multinational businesses combining audit, advisory and transaction expert services and was, right up until May possibly 2019, Worldwide Head of Deloitte’s Audit and Assurance Follow. A lot more just lately Panos joined PA Consulting.

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Warren East, CEO, stated “We are delighted to announce the appointment of Panos as Chief Fiscal Officer who will be part of us in May perhaps this 12 months. Panos delivered sizeable transformational adjust at Deloitte, streamlining and simplifying the business and we seem forward to benefitting from his expertise and experience as we deliver on our fundamental reorganisation and secure a sustainable and prosperous long run for Rolls-Royce.”

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Panos Kakoullis explained “I am really enthusiastic to be becoming a member of Rolls-Royce at this sort of a pivotal time. I have terrific admiration for Warren, the broader management staff and the business as a full and am happy to grow to be component of the group.”

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Panos will get up his new job on 3 May perhaps 2021. Stephen will depart Rolls-Royce on 19 March 2021, soon right after the publication of the Group’s comprehensive calendar year 2020 results. To assist the Team in the time period of transition in between Stephen Daintith and Panos Kakoullis, Ben Fidler will be appointed as Interim CFO, he is at present acting as Deputy CFO and joined the Executive Group successful 1 January 2021. Ben joined Rolls-Royce in 2017 from Deutsche Financial institution and will carry on to carry out his recent obligations as Vice President of Business Effectiveness in addition to his new part.

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In accordance with the Listing Guidelines, there are no more issues that would have to have disclosure beneath 9.6.13R of the Listing Principles of the British isles Money Perform Authority in regard of the appointment of Panos Kakoullis.

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About Rolls-Royce Holdings plc

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  1. Rolls-Royce pioneers cutting-edge technologies that supply clean, protected and competitive remedies to meet our planet’s crucial electrical power needs.
  2. Rolls-Royce has prospects in additional than 150 nations, comprising extra than 400 airways and leasing customers, 160 armed forces, 70 navies, and extra than 5,000 electricity and nuclear clients.
  3. Yearly underlying earnings was £15.3 billion in 2019, around 50 % of which arrived from the provision of aftermarket providers.
  4. In 2019, Rolls-Royce invested £1.45 billion on investigation and growth. We also support a global community of 29 University Technological know-how Centres, which placement Rolls-Royce engineers at the forefront of scientific analysis.
  5. Whole information of remuneration payable to Stephen Daintith will be disclosed at rolls-royce.com in compliance with section 430(2B) of the Companies Act 2006 on 19 March 2021.
  6. The crucial aspects of Panos Kakoullis’ remuneration deal are as follows:
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    – Foundation salary on appointment of £680,000
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    – A pension allowance of 12% of salary, aligned with the new seek the services of charge for the broader British isles workforce
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    – Incentive alternatives will be in line with the new remuneration plan to be disclosed in the 2020 Once-a-year Report
  7. Rolls-Royce Holdings plc LEI: 213800EC7997ZBLZJH69

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