Lord Gold brought in to review Rolls-Royce compliance procedures
MIDLANDS power systems giant Rolls-Royce has brought in Lord Gold to lead a review of its compliance procedures.
The move follows the announcement byRolls-Royce at the beginning of December that it has provided information to the Serious Fraud Office (SFO) relating to concerns about bribery and corruption involving intermediaries in overseas markets.
The SFO had requested information about allegations of malpractice in Indonesia and China. Investigations by Rolls-Royce have identified matters of concern in these, and in other overseas markets.
The firm said it has significantly strengthened its compliance procedures in recent years, including the introduction of a new global ethics code and a new intermediaries policy. It has also expanded its compliance function.
John Rishton, Rolls-Royce chief executive, said at the time: “I want to make it crystal clear that neither I nor the board will tolerate improper business conduct of any sort and will take all necessary action to ensure compliance.
“This is a company with exceptional prospects and I will not accept any behaviour that undermines its future success.”
Lord Gold was a solicitor at Herbert Smith for 37 years, serving as its senior partner between 2005 and 2010. He is one of the UK’s most senior litigators and has extensive experience working at the highest levels with corporations, governments and regulators around the world.
