The Latest Breaking News from Warren East

London (AFP) - British aircraft engine maker Rolls-Royce is "championing" the energy transition and the decarbonisation of aviation, its outgoing chief executive Warren East told AFP on Tuesday at the Farnborough airshow.

A union representing Rolls Royce Holdings plc (OTC:RYCEY) workers in the U.K. rejected the company's offer of a £2,000 one-off payment to beat the crippling inflation, the BBC reports. The offer also included a 4% pay hike. The union known as Unite argued that the offer "falls far short of the real cost…

Boss Warren East has written to employees to inform them of decision 

Thousands of workers in Filton are set to receive a boost to their pay packet

The money will mainly be for staff at the aerospace giant's Derby and South Gloucestershire sites

The aerospace giant posted its latest trading update ahead of its annual general meeting on Thursday

The company's share price surged on Friday as investors reacted positively to a report of a "significant corporate transaction"

Choosing the day Russia invaded Ukraine to make his announcement sums up the chief’s tumultuous stint

The church organ-playing CEO underwent a baptism of fire at the troubled engine maker in his career-defining challenge

Board to hunt for successor to Warren East as departure overshadows annual results

London (AFP) - Rolls-Royce, the British maker of aircraft engines, announced Thursday a return to annual profit in 2021 after it slashed costs, adding that its long-serving chief executive would step down.