Rolls-Royce has enough funding to weather the crisis in the aviation industry caused by the pandemic, its chief executive said on Thursday, after the engine maker plunged to a record 4 billion pound ($5.6 billion) underlying loss for 2020.
By Reuters Staff
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FILE PHOTO: Warren East, CEO of Rolls Royce, speaks at the Confederation of British Industry s (CBI) annual conference in London, Britain, November 19, 2018. REUTERS/Toby Melville
LONDON (Reuters) - Rolls-Royce’s chief executive said the worst was now behind the company after it posted a 4 billion pound ($5.57 billion) loss for 2020.
“2020 certainly marks the low point. We think that the worst is now well behind us,” Chief Executive Warren East told reporters on a call on Thursday.
($1 = 0.7179 pounds)
Rolls-Royce Announces Board Changes
LONDON (dpa-AFX) - Automobile major Rolls-Royce Holdings Plc (RYCEF.PK, RR.L, RYCEY.PK) on Thursday announced the appointment of Paul Adams as a Non-Executive Director. He will join the Board with immediate effect and be a part of the Nominations & Governance Committee, the Safety, Ethics & Sustainability Committee and the Science & Technology Committee.
Separately, the company announced that Board members Lewis Booth, Frank Chapman and Jasmin Staiblin would step down from the Board on May 13 and would not stand for re-election at the Annual General Meeting or AGM.
Both Booth and Chapman completed their nine-year terms in 2020 and were re-elected by shareholders at last year s AGM. Staiblin would be completing her nine-year term in May this year.