Rolls-Royce Hires BP Exec As Finance Chief Amid Profitability Push

By City A.M - Apr 03, 2023

Engineering giant Rolls-Royce has appointed BP exec Helen McCabe as its new finance chief as part of a “transformation programme” which was launched by chief executive Tufan Erginbilgic back in February.

In a statement Rolls Royce Helen McCabe, currently senior vice president for finance in the customer and products division at BP,  will be joining the board of the firm as chief financial officer and take a seat on its board.

Current boss Panos Kakoullis is expected to remain in post until at least 31 August in order to deliver and report on the group’s first half results, the firm said.

Rolls Royce chief Tufan Erginbilgic said she has a “track record of promoting rigorous financial discipline” and her experience would be “invaluable as we move, at pace, to transform Rolls-Royce”. 

“I have experienced her abilities first-hand and her skillset will complement the existing capabilities of the executive team, contributing to Rolls-Royce delivering on its significant potential.” he added. “I would also like to extend my thanks to Panos for his dedication to Rolls-Royce and support to me since my arrival.”

Tufan Erginbilgic, who took the helm of Rolls-Royce in January, has called the company a “burning platform” and launched a transformation programme to improve the profitability of the maker of engines for Airbus A350 and Boeing 787 planes.

McCabe’s appointment came amid a wider shakeup, with Rob Watson takes on the role of president of civil aerospace with immediate effect, moving from Rolls-Royce’s electric aviation unit, and Adam Riddle becoming president of the defence business.