Jörg Stratmann appointed as CEO of Rolls-Royce Power Systems and Andreas Strecker appointed as CFO

• Industrial engineer with experience of transformation and leading businesses through the energy transition to join as CEO on 15 November

• Executive Board team consisting of Jörg Stratmann, Thelse Godewerth, Otto Preiss and Andreas Strecker, wo will join on 1 December, consistently continues development as a provider of sustainable solutions

Dr Jörg Stratmann has been appointed as CEO of Rolls-Royce Power Systems AG, a Rolls-Royce business unit. He will join Rolls-Royce on 15 November 2022 reporting to CEO Warren East as part of the wider Executive Team. Separately, Dr Andreas Strecker will join Power Systems as Chief Financial Officer from 1 December 2022.

Jörg Stratmann, who holds a doctorate in industrial engineering, was most recently CEO and chairman of the executive board of the automotive supplier Mahle GmbH. In this role, he significantly expanded the business outside the area of combustion engines towards customised solutions for e-mobility and successfully developed new business opportunities based on sustainable technologies for global markets. Previously, he held various international positions for Siemens AG and leading positions at Mahle.

Warren East, CEO, Rolls-Royce, said: “I would like to welcome Dr Jörg Stratmann to the Rolls-Royce leadership team. He brings with him extensive experience of the energy transition and how it opens up valuable growth opportunities, which will benefit the whole group. He also has a record of driving operational performance and efficiency improvements, which will assist Power Systems as it continues to sharpen its focus on the profitability of the core mtu business.”

Tufan Erginbilgic, who will take over as Rolls-Royce CEO from 1 January 2023, was closely involved in the recruitment process. He said: “I look forward to working with Jörg and the wider team at Power Systems as we deliver profitable growth from the strong order book and generate further value from its strategic move to more sustainable power solutions.”

Jasmin Staiblin, Chair of the Supervisory Board of Rolls-Royce Power Systems, said: “In Dr Jörg Stratmann we have identified a recognised leader with international experience. With his broad horizon, he will generate further momentum as the business continues to make the transition towards a global developer and supplier of sustainable energy solutions.”

Dr Jörg Stratmann said: “Driving the further development of a leading industrial company into a provider of sustainable solutions and further expanding the product portfolio is an exciting and very appealing task. Rolls-Royce Power Systems has very good capabilities to successfully shape this transformation. The company has an impressive history and is known for its technological expertise. I look forward to getting to know all the employees and shaping the company’s continued success together.”

Jörg Stratmann succeeds Andreas Schell, who on 7 April 2022 announced his decision to stand down. Jasmin Staiblin said: “I would like to thank Andreas Schell for his high level of personal commitment to the strategic transformation, into a provider of integrated and sustainable solutions, he successfully initiated at Rolls-Royce Power Systems and to the profitable growth he helped the business generate. He takes with him our every good wish for the future.”

Separately, the Supervisory Board of Rolls-Royce Power Systems has also appointed Dr Andreas Strecker as Chief Financial Officer. He will join the Management Board of Rolls-Royce Power Systems on 1 December 2022 and will report to Rolls-Royce plc Chief Financial Officer Panos Kakoullis within the Rolls-Royce Group.

Andreas Strecker has extensive experience in the financial management of international corporations, primarily in the automotive and industrial sectors. Most recently, he was President, Europe & Asia, at Accuride Wheels, a supplier to the global commercial vehicle industry, with responsibility for plants in Asia and Europe. Prior to that he was CFO of Cologne-based engine maker Deutz AG, and CEO of Solaris Bus & Coach sp. z o.o., where he turned the company into the leading manufacturer of electric buses.

Jasmin Staiblin said: “With Dr Andreas Strecker, we have secured a CFO with international expertise and a wealth of market knowledge. I am certain that Dr Strecker will use his experience to make a substantial contribution to the profitable and sustainable onward development of Power Systems.”

Panos Kakoullis, Chief Financial Officer, Rolls-Royce, added: “Dr Andreas Strecker has driven entrepreneurial transformation throughout his career and will be a very valuable addition to our wider Finance leadership within Rolls-Royce. His experience will be key in helping our Power Systems business to continue on its profitable journey from an engine manufacturer to a provider of more sustainable energy and propulsion solutions.”

Andreas Strecker said: “I am very pleased to be joining Rolls-Royce at this important time as the group looks to enable its customers make the transition to more climate-neutral products and solutions across all its markets. I have been following the development of Power Systems for many years and am excited by the strategic direction that the business is taking and the potential profitable growth opportunities that creates for mtu products. From my time at Solaris and Deutz, I know the challenges facing the drive-power business and am looking forward to helping shape the way our whole industry evolves.”

“On behalf of the workforce and myself, I would like to welcome Dr Jörg Stratmann and Dr Andreas Strecker. I am delighted that we have succeeded in appointing a CEO and a CFO who are no strangers to balancing the interests of employer and employees in Germany, and who also bring international experience with them,” said Thomas Bittelmeyer, Chairman of the Works Council and Deputy Chair of the Supervisory Board of Rolls-Royce Power Systems.

Dr Jörg Stratmann and Dr Andreas Strecker will join the Rolls-Royce Power Systems Management Board which includes Dr Thelse Godewerth, as Labour Director and Chief People Officer, and Dr Otto Preiss, as Chief Operating Officer. Jasmin Staiblin said: "With this line-up, we have a powerful board team to tackle the transformation ahead together with the entire workforce and to shape the sustainable future of our business. I look forward to our continued successful collaboration.”

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).