Dr. Otto Preiss to leave Rolls-Royce business unit Power Systems at end of April 2023

• Dr. Otto Preiss, Board Member responsible for Production and Technology, not available for contract renewal
• Three-member Board of Management from 1 May 2023  

Dr. Otto Preiss, Chief Technology Officer (CTO) and Chief Operating Officer (COO) of Rolls-Royce Power Systems, shall not be available for renewal of his contract, which runs until 30 April 2023, and is leaving the company at his own wish as of this date. His decision was acknowledged by the Supervisory Board of Rolls-Royce Power Systems when it convened last Friday.  

“It’s the right time for a personal change. As an executive team working together with many colleagues across Rolls-Royce, we’ve achieved some pretty proud feats over the last three years: despite the Covid pandemic and the challenging market conditions it created, we kept the business on course with delivery and now our production volume is back to or even higher than it was before the pandemic. At the same time, we built the technological foundation needed for transforming our portfolio, which included milestones such as approval of sustainable fuels for our mtu engines, hybrid drive and propulsion systems, and fuel cell systems. So Power Systems is excellently placed to embrace the future with confidence,” said Otto Preiss with respect to his decision. “As agreed with the Supervisory Board, I shall continue to perform my functions until the end of my contract term, working in strong cooperation with colleagues, customers and partners and within our excellently constituted teams,” he emphasized.

Speaking on behalf of the entire Supervisory Board of Rolls-Royce Power Systems AG, Chairwoman Jasmin Staiblin expressly thanked Preiss for contributing to the development of the Power Systems business unit as a provider of integrated, climate-friendly solutions for drives, propulsion, and energy. “Otto Preiss, with his technological expertise and industry experience, took important steps in making our products and production plants viable for the future. We wish him every success,” she said.  

As a result, the Rolls-Royce business unit Power Systems shall be led as of 1 May 2023 by a three-member Board of Management comprising Dr. Jörg Stratmann (Chairman and CEO), Dr. Thelse Godewerth (CPO) and Dr. Andreas Strecker (CFO). The Supervisory Board shall determine the schedule of responsibilities of the Management Board well in advance of the departure of Dr. Preiss.  

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 (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).