Rolls-Royce confirms course of Power Systems business: early contract extension of CEO Andreas Schell

• Market environment and customer expectations continue to focus on sustainable solutions
• CEO Andreas Schell's employment contract extended early until 2025
• CFO Louise Öfverström leaves Power Systems at her own request
• Dr. Thelse Godewerth takes over newly created position of CPO and Labour Director and is appointed to the Board of Management
• Clemens Berger becomes new Head of the Mobile Power Solutions Business Unit

Rolls-Royce's Power Systems business unit is driving its transformation into a sustainable solutions provider in 2022. The parent company Rolls-Royce has now reconfirmed the company's course with the early extension of CEO Andreas Schell's contract. The market environment and demand are further accelerating the company's strategic orientation. To this end, the supervisory board of Rolls-Royce Power Systems has decided on a changed line-up of the executive board with personnel changes.

"Last year, with our organizational realignment and our roadmap to climate neutrality Net Zero at Power Systems, we laid important foundations for the further transformation from engine manufacturer to provider of sustainable solutions for energy and propulsion," emphasizes Power Systems CEO Andreas Schell. "In 2022, we will go into deeper implementation in order to be positioned in the markets with a sustainable solution portfolio based on our successful ongoing business."

CEO Andreas Schell's contract extended early until 2025

On 14 January, the Supervisory Board of Rolls-Royce Power Systems AG extended the employment contract of CEO Andreas Schell ahead of schedule until 2025. "We want to continue the future-oriented course with him at the helm and are sending a clear signal by extending his employment contract," explains Jasmin Staiblin, Chairwoman of the Supervisory Board of Rolls-Royce Power Systems.

New board department and personnel changes in the Board of Management

With effect from 14 January, there are also personnel changes on the Power Systems Board of Management. CFO Louise Öfverström has informed the company that she is leaving at her own request to pursue other responsibilities. "We expressly thank Louise Öfverström for the excellent work she has done over the past two years and wish her all the best for her professional and private future," says Jasmin Staiblin. The company acknowledges Louise Öfverström's achievements. She has not only successfully set up the Finance & Controlling department for the future challenges of a matrix organization, but has also reorganized all finance functions in their processes and topics and, in doing so, has also launched and significantly shaped important initiatives with her diverse know-how. Louise Öfverström has also set important standards in the areas of Internal Control Systems (ICS), Digital & IT, Legal, Compliance & Export Control, for which she was responsible, as well as in the development of new areas and initiatives such as Business Excellence and Business Services.

In the next stage of transformation that is now imminent, cross-divisional and results-oriented cooperation is key. In order to focus even more strongly on the consistent linking of strategy and its implementation, a new Executive position will be created. Dr Thelse Godewerth, previously Head of Human Resources and Organizational Development at Power Systems, will be appointed to the Board of Management as Chief People Officer (CPO) and Labour Director with effect from 14 January. "With Dr. Godewerth, the Rolls-Royce Power Systems Board of Management is gaining a leader with strong implementation skills to lead the transformation of the company to sustainable success together with the employees," explains Jasmin Staiblin, Chairwoman of the Supervisory Board. “I am looking forward to continuing our successful joint work with Dr Thelse Godewerth in her new role," adds Andreas Schell.

New Head of the Mobile Power Solutions Business Unit

On 1 February 2022, Clemens Berger will take over from Matthias Vogel as head of the Mobile Power Solutions business unit, which develops and sells mobile drive solutions for ships, trains and heavy land vehicles, among others. With Clemens Berger, who previously held positions including Divisional Board Member at Syntegon Technology GmbH and CEO at Körber Pharma (Medipak Systems AG and GmbH), an experienced professional with know-how in the complex solutions business in the mechanical engineering, process and automation industries and extensive experience in managing companies in transformation processes is taking over. "I am extremely pleased that we were able to appoint Clemens Berger to lead the business unit," says Andreas Schell. "With his expertise, he is excellently positioned for the further development of the solutions business and the increasing networking of Sustainable with classic engine technology. Andreas Schell continues: "At the same time, we would like to thank Matthias Vogel for the excellent work he has done in various roles at the company. In his long career, he has helped shape the company and contributed significantly to the growth of the core business. Matthias Vogel has driven a number of initiatives - examples include the development of the industrial business, the successful expansion of the US business in his role as CEO USA, the increased market share in powergen or the further development of services in connection with digitalization. Matthias Vogel hands over the Mobile Power Solutions business well positioned for the challenges ahead. The Board of Management and staff wish him only the best for the future."
  

About Rolls-Royce Holdings plc

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. We joined the UN Race to Zero campaign in 2020, and have committed to ensuring our new products will be compatible with net zero operation by 2030, and all products will be compatible with net zero 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.  
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 £11.76 billion in 2020 and we invested £1.25 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).