Rolls-Royce investors call for smooth transition to new CEO

Speaking to the UK’s Financial Times, three of Rolls-Royce’s largest shareholders have stated that Warren East’s successor needed to be a proven operator who should focus on making the company more efficient. Better communication around Rolls-Royce’s medium-term financial prospects was also important, they said. East plans to step down as chief executive of the aero-engine manufacturer later this year. Mark Salem, chief investment officer at Mount Capital, noted that there was “potentially more to be done in cost savings, capital allocation and reducing the capex intensity of the [civil aviation] business, as well as additional opportunities in monetising valuable data.” “We