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
-
MoneyWeek news quiz: Which G7 nation has the most generous state pension?The chancellor “set the context” for the Budget on 26 November this week, and November's Premium Bonds winners were confirmed. The state pension also made headlines. How closely have you been following the news?
-
Have a will? It may not be enough to secure your wishes – here’s what you need tooIncorporating a letter of wishes into your estate planning can provide a unique opportunity to personally guide your loved ones on your final wishes for them and you. We explain how a letter of wishes works.
