Rolls-Royce has hired its first female chair in its 115-year history.
The aerospace giant, which has UK bases in Derby and Filton, South Gloucestershire, has appointed Anita Frew, who is currently chair of chemicals group Croda.
She will join the board at Rolls-Royce on July 1, succeeding Sir Ian Davis on October 1, who is retiring after almost nine years in the role.
Rolls-Royce said Ms Frew, 63, emerged as the “outstanding candidate” after a comprehensive search.
She has held board appointments in the UK and globally for the past 20 years, with recent former roles including deputy chairman and senior independent director at Lloyds Banking Group.
Ms Frew also previously worked as a director at advertising group WPP, with its founder Sir Martin Sorrell, and held roles at Royal Bank of Scotland.
Sir Kevin Smith, senior independent director at Rolls-Royce, said: “She brings a wealth of experience from two decades of board appointments both in the UK and internationally, and her skills and reputation with investors and government institutions will be invaluable to the group.”
But Ms Frew takes over at a tough time for the firm, which has been hit hard by the pandemic as the crisis has hammered the global aviation industry.
Rolls crashed to a £4bn loss in 2020 and chief executive Warren East has embarked on a cost-cutting programme that will lead to 9,000 jobs being cut worldwide.
The company has raised £7.3bn to survive the pandemic through tapping up shareholders and borrowing from the Bank of England, with plans to raise at least £2bn from selling off some parts of the business.
Mr East said: “I would like to thank Ian for his steadfast leadership, guidance and unwavering support during a crucial period for the group, both strategically and operationally.”
He added: “I am delighted to welcome Anita to Rolls-Royce, with her extensive experience and leadership I look forward to working with her.”
