Mark King, president of Rolls-Royce’s aerospace decision, has unexpectedly resigned from the power solutions company.
In a trading statement issued to the London Stock Exchange yesterday, the engine maker announced that its president of aerospace, Mark King, had decided to resign from the company.
Mr King will leave Rolls-Royce at the end of June and will be replaced by Tony Wood, who is currently head of the firm’s marine business.
The company, which employs about 13,000 people in Derby, told the Derby Telegraph that it was “a personal decision” but declined to give further details about the surprise resignation.
The civil aerospace business is the biggest driver of Rolls-Royce’s growth, the company posting record turnover and profit in its 2012 financial statement in March.
King joined Rolls-Royce in 1986 and was appointed president of aerospace in January, having been president of civil aerospace.
Tony Wood, who replaces him, has been with Rolls-Royce for 12 years and has worked in the company’s civil aerospace and defence divisions. He begins the new job on May 13.
The top job in the marine division position vacated by Wood will be taken by Lawrie Haynes, who is president of the firm’s nuclear division. He will be appointed to the new position of president of marine and nuclear.