Rolls chairman steps down

Jet engine maker Rolls-Royce said today that its chairman was stepping down after little more than a year in the job.

Rolls said Euan Baird, who suffered a stroke in December, had decided to resign immediately from the chairmanship and his role as a director due to a long period of convalescence.

Mr Baird replaced Ralph Robins as chairman of the aerospace, defence and marine power firm in February last year.

Rolls said Lord Moore of Lower Marsh, who has been acting chairman in Mr Baird’s absence, would serve as interim chairman until the company appoints a permanent successor, for whom a search has already begun.

Lord Moore said: “Euan Baird has made a significant and lasting contribution to Rolls-Royce in his period as chairman and the board is very sorry that he has had to stand down.”

The group recruited Scottish-born Mr Baird as a non-executive director in November 2002 before appointing him as chairman on February 1, 2003.

The married father of two had previously been chairman and chief executive of global oilfield and information services company Schlumberger since October 1986.

Rolls has sites in Bristol, Coventry, Derby and Glasgow.