Rolls-Royce Announces the Appointment of Lord Gold
Rolls-Royce, the global power systems company, today announced the appointment of Lord Gold to lead a review of its compliance procedures, reporting to the Ethics Committee of the Board. This follows the previous announcement by Rolls-Royce that it has provided information to the Serious Fraud Office (SFO) relating to concerns about bribery and corruption involving intermediaries in overseas markets.
Lord Gold was a solicitor at Herbert Smith for 37 years, serving as its senior partner between 2005 and 2010. He is one of the UK’s most senior litigators and has extensive experience working at the highest levels with corporations, governments and regulators around the world.
1.Rolls-Royce is a world-leading provider of power systems and services for use on land, at sea and in the air, and has established a strong position in global markets - civil aerospace, defence aerospace, marine and energy.
2.As a result of this strategy, Rolls-Royce has a broad customer base comprising more than 500 airlines, 4,000 corporate and utility aircraft and helicopter operators, 160 armed forces, more than 4,000 marine customers, including 70 navies, and energy customers in more than 80 countries.
3.Annual underlying revenue was £11.3 billion in 2011, of which more than half came from the provision of services. The firm and announced order book stood at £60.1 billion at 30 June 2012, providing visibility of future levels of activity.
4.Rolls-Royce employs over 40,000 people in offices, manufacturing and service facilities in over 50 countries. Over 11,000 of these employees are engineers.
5.In 2011, Rolls-Royce invested £908 million on research and development, two thirds of which had the objective of further improving the environmental performance of its products, in particular reducing emissions.
6.Rolls-Royce supports a global network of 28 University Technology Centres, which connect the company’s engineers with the forefront of scientific research.
7.The Group has a strong commitment to apprentice and graduate recruitment and to further developing employee skills.
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