RNS Number : 2363B
Rolls-Royce Holdings plc
09 June 2021
9 June 2021
Rolls-Royce Holdings plc
ROLLS-ROYCE ANNOUNCES ANITA FREW AS CHAIR DESIGNATE
AND APPOINTMENT OF MIKE MANLEY AS NON-EXECUTIVE DIRECTOR
Rolls-Royce Holdings plc (Company or Group) is pleased to
announce that it has appointed Anita Frew as a Non-Executive
Director and Chair Designate. Anita will join the Board with effect
from 1 July 2021 and will succeed Sir Ian Davis as Chair on 1
October 2021. Sir Ian will retire from the Board on 30 September
2021, after nearly nine years as Chairman. On joining the Board,
Anita will be appointed to the Nominations & Governance
Committee and will succeed Sir Ian as Chair of that Committee on 1
October 2021. Rolls-Royce also today announces the appointment of
Mike Manley as a Non-Executive Director.
Anita Frew is currently chair of Croda plc, the science,
technology and chemicals group and a non-executive director of BHP
Group, a global resources company. Until recently she was the
deputy chairman and senior independent director of Lloyds Banking
Group PLC and has also held chair and board roles in companies in
industrial, engineering and utilities sectors.
Sir Kevin Smith, Senior Independent Director, said: " Anita is
the unanimous and clear choice of the Nominations & Governance
Committee and her proposed appointment has been warmly endorsed by
the entire Board.
The Company conducted a comprehensive search and Anita emerged
as the outstanding candidate. She brings a wealth of experience
from two decades of Board appointments both in the UK and
internationally and her skills, and reputation with investors and
government institutions will be invaluable to the Group. I am
delighted to welcome Anita to the Board and as Chair Designate.
On behalf of the Board I would like to thank Ian for his
outstanding contribution as Chairman over almost nine years of
service. His leadership, guidance and resilience has been integral
to the Group's progress and ongoing transformation. He has brought
the Board much closer to the employees and will be missed by people
at all levels of the organisation. Ian has been an exceptional
ambassador for Rolls-Royce."
Sir Ian Davis said: "Rolls-Royce is a pioneering company with
tremendous potential and it has been a huge privilege and
responsibility to be its Chairman. I am immensely grateful to my
fellow Board members for their support and hard work during my
tenure as Chairman. I wish Anita every success as she joins the
Board at a very exciting time for Rolls-Royce as we deliver a more
Anita Frew commented: "It is an honour and privilege to join the
Board of Rolls-Royce and to succeed Sir Ian as Chairman. I look
forward to working with the Board, Warren East and the leadership
team to support the next stage of the Group's development."
Warren East, CEO, said: "I would like to thank Ian for his
steadfast leadership, guidance and unwavering support during a
crucial period for the Group, both strategically and operationally.
Ian has played a key role in contributing to Rolls-Royce's future
and on behalf of the Executive Team and all our employees, I would
like to wish him well for the future. I am delighted to welcome
Anita to Rolls-Royce, with her extensive experience and leadership
I look forward to working with her."
The Directors have determined that upon appointment Anita Frew
will be independent.
Mike Manley will join the Board with effect from 1 July 2021
and, on appointment, he will become a member of the Nominations
& Governance Committee and the Science & Technology
Committee. He is currently head of Americas of Stellantis N.V. and
a member of their executive team. He joined Fiat Chrysler
Automobiles N.V. in 2011 and has held a number of senior executive
positions, including chief operating officer for both the APAC
region and NAFTA regions. He was chief executive officer of Fiat
Chrysler Automobiles N.V. from July 2018 to January 2021, prior to
its merger with Groupe PSA. Prior to joining Fiat, Mike held roles
with Daimler/Chrysler, RAC, General Motors and Renault.
Sir Ian Davis said: "I am delighted to welcome Mike to our
Board. He is highly international in both his experience and
approach, having led businesses in Europe, Asia and the US. His
experience of driving a digitally-focused transformation programme,
alongside his insights into electrification and power management
more generally will undoubtedly add value to the Board's
Mike Manley added: "I am delighted to be joining the Rolls-Royce
Board. I am looking forward to being part of such an icon of global
engineering at a time of significant change and opportunity."
Anita Frew is a UK national. In accordance with the Listing
Rules, there are no additional matters that would require
disclosure under 9.6.13R of the Listing Rules of the UK Financial
Conduct Authority in respect of her appointment.
In accordance with the Listing Rules, in respect of Mike Manley,
there are no additional matters that would require disclosure under
9.6.13R of the Listing Rules of the UK Financial Conduct Authority
in respect of his appointment.
For further information, please contact:
Director of External Communications & Brand, Rolls-Royce
Tel +44 (0) 7810 850055
Head of Investor Relations, Rolls-Royce plc
Tel +44 (0) 7880 160976
About Rolls-Royce Holdings plc
1. Rolls-Royce pioneers the power that matters to connect, power
and protect society. We have pledged to achieve net zero greenhouse
gas emissions in our operations by 2030 (excluding product testing)
and joined the UN Race to Zero campaign in 2020, affirming our
ambition to play a fundamental role in enabling the sectors in
which we operate achieve net zero carbon by 2050.
2. Rolls-Royce has customers in more than 150 countries,
comprising more than 400 airlines and leasing customers, 160 armed
forces and navies, and more than 5,000 power and nuclear
3. Annual underlying revenue was GBP11.76 billion in 2020 and we
invested GBP1.25 billion on research and development. We also
support a global network of 28 University Technology Centres, which
position Rolls-Royce engineers at the forefront of scientific
4. Anita Frew will receive the following fees:
-- annual fees on appointment as a Non-Executive Director, for
the period 1 July to 30 September 2021, of GBP70,000;
-- annual fees on appointment as Chair, from 1 October 2021, of GBP490,000; and
-- benefits will be in line with the remuneration policy
approved by shareholders at the Company's Annual General Meeting on
13 May 2021.
5. Rolls-Royce Holdings plc LEI: 213800EC7997ZBLZJH69.
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