Share Shorts: Rolls-Royce; eg solutions; EDI
Rolls-Royce chief executive to retire
ROLLS-ROYCE has announced that chief executive Sir John Rose, left, is to retire from the company at the end of March 2011. He will be succeeded by John Rishton, currently chief executive of the Dutch retail group Royal Ahold. Mr Rishton has been a non-executive director of Rolls-Royce since 2007 and chairs the group’s Audit Committee. Sir John has been chief executive since 1996, having joined the company in 1984. Sir Simon Robertson, chairman of Rolls-Royce, said: “John has led a transformation in Rolls-Royce which has few parallels. As he would be the first to point out this has been a team effort, but it has been his leadership, strategic vision and tenacity which has made this extraordinary achievement possible. With John at the helm, the group has developed into a truly global company, it has built a powerful portfolio, and constructed a platform from which we expect revenues to double in the decade ahead.” Sir John said he wished the company every success in the future. Mr Rishton was a former chief financial officer of British Airways for four years. He has also held senior positions at the Ford Motor Company. Rolls-Royce share price click here
eg solutions secures new contract
STAFFORDSHIRE financial software supplier eg solutions has secured a further order from an existing UK financial services sector client. The company, headed by chief executive Elizabeth Gooch, left, said following the recent implementation of an enterprise-wide software licence, Nationwide Building Society had placed an additional order for operations management implementation services. These are expected to deliver consistent benefits across all customer operations functions. No financial details were disclosed. The contract will be recognised within the current financial year. eg solutions share price click here
EDI declares results to be in line with expectations
EDUCATION Development International, which supplies educational qualifications and assessment services, has said its results are expected to be in line with expectations. The Coventry firm said the confidence dislayed at the half year had continued during the second half of its financial year. The improvement was achieved through balancing costs against a relatively modest increase in group revenues. The firm said it had also maintained its investment strategy. while at the same time maintaining the key areas of our investment programme. It remains cautious on outlook until the full fall-out from the Compehensive Spending Review becomes clear. The group said its cash position remained strong and was ahead of the level at the same time last year. Chief executive Nigel Snook, left, said: “Anticipating how the market will develop over the next year is not a straightforward matter. However, we believe that our continuing investment in our organisation’s capacity and capability leaves us well positioned to respond to opportunities.” EDI share price click here
