Lord Gold to head up compliance review at Rolls-Royce

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.

On December 6th, the group reported that it had passed information to the SFO following a request for information about allegations of malpractice in Indonesia and China. Rolls-Royce stated that it had identified "matters of concern" in these and in other overseas markets.

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