Rolls-Royce appoints ex-Deloitte partner as new Chief Financial Officer

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Rolls-Royce Holdings PLC (LON:RR.) announced it has appointed Panos Kakoullis as its new chief financial officer and executive director.

He is replacing Stephen Daintith, who is leaving the engine maker as previously announced with its interim results last year.

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Kakoullis has been chief executive elect at PA Consulting since February 2020 after spending his career at Deloitte, which he joined as a graduate, working with several multinational corporations combining audit, advisory and transaction services.

He was Global Head of Deloitte‘s Audit and Assurance Practice until May 2019.

Kakoullis will take up his new role on May 3 earning a base salary of £680,000 per annum, while Daintith will leave on March 19 shortly after the publication of the group’s full year 2020 results.

In the meantime, current deputy chief financial officer Ben fiddler will be appointed as interim, though he will continue to carry out his current responsibilities as Vice President of Business Performance.

“Panos delivered significant transformational change at Deloitte, streamlining and simplifying the business and we look forward to benefitting from his expertise and experience as we deliver on our fundamental reorganisation and secure a sustainable and prosperous future for Rolls-Royce,” said chief executive Warren East.

Shares rose 2% to 94.51p early on Monday.

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