New CFO for Rolls-Royce

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Industry Group Rolls-Royce announced that [ds_preview]the current Chief Financial Officer David Smith will leave the company. He will be succeeded by Stephen Daintith, who has been appointed CFO and executive director of Rolls-Royce Holdings plc.

Stephen will take up his new role in 2017, David Smith aims to »pursue other business interests« after three years at Rolls-Royce, the company stated. Daintith is currently Chief Financial Officer of Daily Mail & General Trust plc. Previously he was employed by News International as Chief Financial Officer and Chief Operations Officer of Dow Jones & Co. His earlier career was spent working internationally in a number of senior positions at British American Tobacco, also at Forte, the Civil Aviation Authority and PriceWaterhouse Coopers. He will become a non-executive director of 3i Group plc with effect from 1 October 2016, as previously announced by 3i.

Warren East, Rolls-Royce, Chief Executive, said: »Stephens deep understanding of international business and his record of achievement in change management are particularly relevant to Rolls-Royce as we build our business and respond to the growing global requirement for our technology. He thanked David Smith »for his valuable support over the past three years. David has made an important contribution to restoring confidence in the business, improving financial systems and delivering the early stages of our transformation.«