Rolls-Royce names Helen McCabe as CFO

Rolls-Royce stated McCabe, who was previously the CFO of oil giant BP Downstream's fuels and refining businesses in Europe and Southern Africa, will succeed Panos Kakoullis, who will remain in the role until at least 31 August.

Chief executive Tufan Erginbilgic said: "Her track record of promoting rigorous financial discipline and experience of delivering performance management to achieve dramatic improvements will be invaluable as we move, at pace, to transform Rolls-Royce.

"I have experienced her abilities first-hand and her skillset will complement the existing capabilities of the executive team, contributing to Rolls-Royce delivering on its significant potential. "

The FTSE 100-listed group also tapped Rob Watson to the role of president of its civil aerospace division, with immediate effect, while the current holder of the position, Chris Cholerton, will become group president.

Elsewhere, Adam Riddle was appointed to the roles of president of defence, and chairman and chief executive of Rolls-Royce North America, with immediate effect.

As of 0815 BST, Rolls-Royce shares were up 1.37% at 152.26p.

Reporting by Iain Gilbert at Sharecast.com