Rolls-Royce poaches Daily Mail CFO Daintith

Engine maker Rolls-Royce has poached Stephen Daintith from the Daily Mail & General Trust (DMGT) to be its new chief financial officer.

He will replace David Smith in the new year, who is leaving the FTSE 100-listed company after three years to pursue other business interests.

Daintith, who will also be appointed an executive director of the engineering company, is currently CFO of DMGT and previously worked at Dow Jones, British American Tobacco, Forte, the Civil Aviation Authority and PriceWaterhouseCoopers.

Daintith said: "Rolls-Royce has built powerful positions in expanding global markets and has outstanding prospects for long-term growth. I am looking forward to playing my part in ensuring the growth which lies ahead is increasingly profitable and cash generative.”

He said that chief executive Warren East was "driving a transformation programme that I entirely support".

East himself added: "His 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."

As well as stepping down from his positions as an executive director of DMGT, Daintith will also depart the Euromoney Institutional Investor audit committee, and no longer be a non-executive director of Zoopla Property, but is taking up a role as a non-executive director of 3i Group from 1 October.