Source link The new boss of Rolls-Royce has declared the iconic British company to be on a “burning platform” with regards to the future competitive pressure in the global aerospace industry.
In an exclusive interview with the Financial Times, the recently appointed CEO Warren East stated that the company must act quickly in order to protect its position in the market and ensure long-term sustainability. This bold statement marks the beginning of East’s attempt to reignite the historic prestige of the prestigious brand.
At the heart of East’s current restructuring plan for Rolls-Royce is a radical shift in the company’s focus. He has pledged to move the business away from a reliance on technology-centric products and instead build a globally competitive aero-engine business. To achieve this, the company has committed to investing significantly more into research and development and cutting out any extraneous spending.
Despite the current doom-and-gloom outlook of the aerospace industry, East is confident that by bringing together the right team, authentic leadership, and clear strategy, Rolls-Royce will be able to rise above the competition. He is adamant that the traditional and innovative approaches to doing business should both be embraced in order to build a more successful business model.
Rolls-Royce has already begun the process of rejuvenating itself. Over the past two years, the company has invested approximately ₤2 billion in research, reduced the cost of its core components, and begun the process of launching some exciting new technologies. East has also outlined that he intends on encouraging partnerships between the businesses and universities in order to bring about an even brighter future for Rolls-Royce.
As Warren East declared, the aerospace industry as a whole is currently facing difficult conditions. But he has proven himself as an inspirational leader who is taking a hands-on approach to modernising the company and driving it forward. It certainly looks as though Rolls-Royce is on the road towards a better tomorrow.
