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Rolls-Royce implements transformation program including strategic review
The Fly

Rolls-Royce implements transformation program including strategic review

The company said, "We have carried out extensive work to benchmark our performance against that of our peers. This work shows that there is significant scope for us to deliver materially higher profit, cash flows and returns. We will create a stronger, growing business with a clear proposition for investors based upon delivering: a high quality and competitive business, focused on profitable performance and operational efficiency; growing sustainable cash flows, generated from operations and disciplined capital investment; and a strong balance sheet and growing shareholder returns. We have already begun an ambitious transformation programme to deliver a step-change in our performance. It consists of seven workstreams, each led by a senior executive: Efficiency and simplification – delivering sustainable cost efficiencies. Commercial optimisation – getting the right reward for the risks we take and the value we create for customers. Working capital – delivering a significant and structural reduction across the Group. Business improvement – each business unit building and delivering plans to address performance gaps to realise its potential. Strategic review – enabling prioritisation of investment opportunities. Performance management – delivering on our expectations of high performance from all businesses and employees. Purpose and culture – instilling our people with the right mindset to be confident, proactive and timely in our actions. The outcomes of these workstreams will drive a clear and granular plan. We will communicate this to you alongside medium-term financial targets in the second half of the year."

Published first on TheFly

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