Rolls-Royce to appoint former McKinsey boss as new chairman

ROLLS-ROYCE will today unveil ex-McKinsey boss Ian Davis as its new chairman, replacing Sir Simon Robertson who will leave the business after eight years.

The announcement will be made alongside today’s year-end results which are expected to show the engineering giant made bumper profits in 2012, according to Sky News.

Davis spent 31 years with management consultants McKinsey, including six years as managing director – effectively chief executive – between 2003 and 2009.

He is currently a non-executive director at both BP and Johnson & Johnson, in addition to work advising Apax Partners and the government’s cabinet office.

Meanwhile Rolls-Royce yesterday signed a 10-year contract with the Ministry of Defence for the development of submarines, which will help safeguard up to 2,000 jobs in the UK and deliver up to £200m worth of savings to the department.

The contract, worth around £800m over the next decade, would help deliver cost savings around the provision of nuclear propulsion systems for Britain’s existing and future submarine flotilla.