A celebrated technology executive is to take on one of the trickiest jobs in UK industry — reviving the fortunes of Rolls-Royce, a company that symbolises British manufacturing prowess but which has been hit by a string of profit warnings and questions over strategy.
Warren East, the former boss of Arm Holdings, will become chief executive of Rolls-Royce, replacing John Rishton, who surprised investors yesterday by saying he would step down in July.
The 109-year-old company is a global leader in manufacturing engines for passenger jets. But a series of profit warnings last year and investigations into alleged bribery and corruption have overshadowed Mr Rishton’s record in office.
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