- Aerospace engineering group Rolls-Royce said chairman Ian Davis would retire at the end of September after nearly nine years in the role.

He would be replaced by Anita Frew, who was currently chairman of chemicals company Croda and a non-executive director of miner BHP.

'The company conducted a comprehensive search and Anita emerged as the outstanding candidate,' senior director Kevin Smith said.

Smith said Davis's leadership had been integral to the company's progress and ongoing transformation, which has seen it recently slash thousands of jobs.

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