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Ex-ARM CEO Appointed CEO of Rolls-Royce

Rolls Royce (LON: RR) announced Wednesday that it had appointed the former CEO of ARM (LON: ARM) to the position of CEO.

Warren East served as the CEO of ARM from 2001 to 2013, which are the years that defined the company as a global force and the dominant player in the mobile SoC space. East has served as a non-executive director of Rolls Royce since January 2014. His role as CEO will be effective July 2.

“Warren has an outstanding record as CEO of ARM Holdings,” said Rolls-Royce chairman Ian Davis in a statement. “He is an engineer by training; he has a deep understanding of technology and of developing long-term partnerships. He has proven strategic and leadership skills in a global business and a strong record of value creation.”

The current CEO John Rishton is retiring because he seeks a “change in lifestyle”.

“After 14 years as a CEO and CFO I have decided it is time for a change in lifestyle. We have made good progress transforming Rolls-Royce and have a strong team in place,” he said in a statement. “While there is clearly more to do, the company is better placed to face the future. I am sure Warren will lead the business successfully through the next phase and I wish him and everyone at Rolls-Royce well.”