THE boss of Rolls-Royce is to step down after 14 years, it has been announced.
The aerospace giant said yesterday that chief executive Sir John Rose would retire in March 2011.
John Rishton, the boss of Dutch retail group Royal Ahold and a non-executive director at the engine maker, will replace Sir John at the top of Rolls, which employs 1,000 in East Lancashire.
Sir John said: “The people in this extraordinary company have my deepest admiration and it has been a tremendous privilege to work with them.”
Sir John is one of the longest-serving chief executives of a FTSE 100-listed company and has turned the aerospace firm into one of Britain’s most successful global companies.
Rolls-Royce’s two plants in Barnoldswick manufacture fan blades for its Trent engines.
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