20th Sep 2022 12:28
(Alliance News) - Rolls-Royce Holdigns PLC on Tuesday said it has hired Jorg Stratmann as its new chief executive of Rolls-Royce Power Systems AG.
Stratmann will join the engineering group on November 15, reporting to CEO Warren East as part of the wider executive team. Current Rolls-Royce Power Systems CEO Andreas Schell will leave to become CEO of energy company EnBW Energie Baden-Wurttemberg AG the same day.
Stratmann was most recently CEO and chair of automotive supplier Mahle GmbH.
"In this role, he significantly expanded the business outside the area of combustion engines towards customised solutions for e-mobility and successfully developed new business opportunities based on sustainable technologies for global markets," Rolls-Royce said.
He has also previously held "various international positions" at Munich-based Siemens AG.
The company added that Tufan Erginbilgic, who will take over as Rolls-Royce CEO from the start of 2023, was closely involved in the recruitment process.
Rolls-Royce named Erginbilgic as its new CEO back in July.
Erginbilgic is currently a partner at Global Infrastructure Partners, a private equity firm which focuses on large-scale investments in infrastructure businesses. He has also spent over 20 years at BP PLC, including five as part of its executive team.
Commenting on Stratmann's appointment, CEO East said: "He brings with him extensive experience of the energy transition and how it opens up valuable growth opportunities, which will benefit the whole group. He also has a record of driving operational performance and efficiency improvements, which will assist Power Systems as it continues to sharpen its focus on the profitability of the core MTU business."
MTU is a brand of Rolls-Royce Power Systems AG. MTU high-speed engines and propulsion systems provide power for marine, rail, power generation, oil and gas, agriculture, mining, construction and industrial, and defence applications.
Shares in Rolls-Royce were up 0.3% to 76.01 pence each in London on Tuesday around midday.
By Sophie Rose; [email protected]
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