FTSE 100-listed aerospace and defence giant Rolls-Royce has announced that Lord Gold will lead a review of its compliance procedures.
The announcement follows a previous statement issued by Rolls-Royce in December disclosing that it had provided information to the Serious Fraud Office relating to concerns about bribery and corruption involving intermediaries in overseas markets.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
At that time, John Rishton, Chief Executive of rolls-Royce, stated: "Neither I nor the board will tolerate improper business conduct of any sort and will take all necessary action to ensure compliance. This is a company with exceptional prospects and I will not accept any behaviour that undermines its future success".
Rolls-Royce's share price was down 0.22% to 894p at 08:56 on Thursday morning.
MF
-
What is the 25x retirement rule and does it work?The 25x retirement rule has been around for decades but many experts question if it is a suitable strategy
-
When is the self-assessment tax return deadline?If you are self-employed, rent out a property or earn income from savings or investments, you may need to complete a self-assessment tax return. We run through the deadlines you need to know about
