The head of Rolls-Royce's aerospace division, Mark King, has resigned despite only taking up the job in January. <\/p>\n
Mr King, who has worked for Rolls since 1986 in a variety of roles, will leave the engine maker in June amid an investigation into allegations of corruption in Indonesia and China. <\/p>\n
The Serious Fraud Office is investigating claims that Rolls representatives paid bribes to win aerospace engine contracts in Asia. Rolls has also hired Lord Gold, a Conservative peer, to compile a report on its compliance procedures. <\/p>\n
Rolls gave no reason for the departure of Mr King in a stock market statement. He will be replaced by Tony Wood, who is head of the marine business. <\/p>\n
Mr King was the head of Rolls' civil aerospace division - which makes engines for airlines around the world - before being promoted to president of entire aerospace business <\/p>\n
Alongside the departure of Mr King, Rolls said that trading in the first quarter of its financial year has been \"consistent with our expectations\". <\/p>\n
The FTSE 100 engine maker, which will hold its annual general meeting on Thursday, said: \"Since the preliminary 2012 results in February, we have won a $1.6bn order from International Airlines Group for Trent XWB engines, with long-term TotalCare service support, to power 18 Airbus A350-1000 aircraft, we have signed multiple contracts to provide and service military transport engines for the US Air Force and US Marine Corp, and we have started construction of the state-of-the-art core manufacturing facility in Derby that will produce reactor cores for the UK's current and future submarines programme.\" <\/p>\n
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Rolls-Royce aerospace boss to step down<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The head of Rolls-Royce's aerospace division, Mark King, has resigned despite only taking up the job in January. Mr King, who has worked for Rolls since 1986 in a variety of roles, will leave the engine maker in June amid an investigation into allegations of corruption in Indonesia and China Continue reading