ROLLS-ROYCE has declined to reveal details of why the boss of its aerospace division has suddenly decided to quit the firm.
Yesterday, in a trading statement issued to the London Stock Exchange, the firm, which has its civil aerospace and nuclear divisions in Derby, announced that Mark King had decided to resign from the company.
Mr King, who was the company's president of aerospace, will leave Rolls-Royce at the end of June and will be replaced by Tony Wood, who is currently head of the firm's marine division.
Rolls-Royce, which is Derby's largest private sector employer with around 13,000 staff, has declined to go into the details of why Mr King is leaving the business.
The firm told the Derby Telegraph that it was "a personal decision".
Profits at the company have been rising for the last 10 years – driven largely by the performance of the aerospace division.
Mr King joined Rolls-Royce in 1986 and was appointed president of aerospace in January. Prior to that, he was president of civil aerospace.
His replacement, Mr Wood, has worked for Rolls-Royce for 12 years and has experience in both the firm's civil and defence aerospace divisions.
Mr Wood's former role will be taken by Lawrie Haynes, currently president of the firm's nuclear division. He will be appointed to the new position of president of marine and nuclear.
In its trading statement, Rolls-Royce said: "Tony Wood will take up his new role on May 13. He replaces Mark King, who has decided to resign from the company at the end of June."
Rolls-Royce also issued an update on its performance so far in 2013.
The firm, which held its annual meeting in London yesterday, said it expected to achieve "modest growth" in sales and "good growth" in profits this year.
Among the highlights since the company's annual results in February, has been a £1 billion order from British Airways owner International Airlines Group for Trent XWB engines to power a fleet of Airbus A350 aircraft.
The Trent XWB has been designed and developed in Derby.
Rolls-Royce also started construction on a state-of-the-art Core Manufacturing Facility at its nuclear site in Raynesway, which will make reactor cores for the UK's current and future submarines.
The firm is due to report half-year results on July 25.
