Rolls-Royce Power Systems Supervisory Board and CEO agree on termination of contract by the year end

• CEO Andreas Schell announces job change
• Supervisory board confirms Power Systems’ continued successful transformation
• Excellent order situation ensures continued high factory utilisation

Rolls-Royce Power Systems AG supervisory board and acting CEO Andreas Schell agreed on termination of the CEO’s contract until end of year 2022. Following five years at the helm of the company, Schell will pursue a new challenge. He has been CEO of Rolls-Royce Power Systems AG as well as managing director of Rolls-Royce Solutions GmbH (formerly MTU Friedrichshafen GmbH) since January 2017. Rolls-Royce Power Systems AG’s supervisory board as well as the Board of Management of the parent company, UK technology group Rolls-Royce plc have initiated the search for the successor. Andreas Schell will continue to be acting CEO and head of Rolls-Royce’ business unit Power Systems by the year end.

Warren East, CEO Rolls-Royce, said: “Andreas has successfully repositioned our Power Systems business from an engine manufacturer to a provider of sustainable power solutions and set it upon a firm path to capture the commercial opportunity presented by the energy transition. He has strengthened the leadership team in the business and together they have secured the highest order book in the organisation’s history. I would like to thank him for his hard work and perseverance over the past five years and also his commitment to leading the business while we work towards a smooth leadership transition.”

On behalf of the Supervisory Board, Jasmin Staiblin, Chairwoman of the Supervisory Board of Rolls-Royce Power Systems, thanks Andreas Schell and says: "Andreas Schell has successfully driven the strategic realignment of Rolls-Royce Power Systems. He will continue to perform his CEO role fully and together with a high-performing team until the change. The search for a successor has been initiated. The Supervisory Board will present a new, strong leader at the appropriate time."

Rolls-Royce Power Systems CEO Andreas Schell: „In the past five years, together with a formidable leadership team I was able to shape the company’s new strategy. The successful organisational realignment and our Net Zero program introduced in 2021, we have managed to secure key milestones for Power Systems’ future. It remains my priority to continue to pursue the further economic and sustainable development of our company. Power Systems contributes substantially to the decarbonisation of the propulsion and power supply. The order books are full, providing the best foundation for the further transformation of the running business.“

In the fiscal year 2021, Rolls-Royce Power Systems again confirmed growth in turnover and sales, continuing the company’s growth trajectory.

1. Rolls-Royce pioneers the power that matters to connect, power and protect society. We have pledged to achieve net zero greenhouse gas emissions in our operations by 2030 (excluding product testing) and joined the UN Race to Zero campaign in 2020, affirming our ambition to play a fundamental role in enabling the sectors in which we operate achieve net zero carbon by 2050.
2. Rolls-Royce Power Systems is headquartered in Friedrichshafen in southern Germany and employs around 9,000 people. The product portfolio includes mtu-brand high-speed engines and propulsion systems for ships, power generation, heavy land, rail and defence vehicles and for the oil and gas industry as well as diesel and gas systems and battery containers for mission critical, standby and continuous power, combined generation of heat and power, and microgrids and is intensively engaged in the development of climate-neutral solutions.
3. Rolls-Royce has customers in more than 150 countries, comprising more than 400 airlines and leasing customers, 160 armed forces and navies, and more than 5,000 power and nuclear customers.
4. Annual underlying revenue was £10.95 billion in 2021, underlying operating profit was £414m and we invested £1.18 billion on research and development. We also support a global network of 28 University Technology Centres, which position Rolls-Royce engineers at the forefront of scientific research.
5. Rolls-Royce Holdings plc is a publicly traded company (LSE:RR., ADR: RYCEY, LEI: 213800EC7997ZBLZJH69).