Rolls-Royce Names Deloitte Partner Kakoullis CFO
Rolls-Royce named Panos Kakoullis - the former head of Deloitte’s audit and assurance practice, as its new chief financial officer in an attempt to cut costs and battle the effects of the COVID-19 pandemic.
Indeed, the pandemic has hit the British company hard given it is paid by airlines on a flying-hours basis, and the company warned in January that the start of this year was even more tough than initially expected.
Chief Executive - Warren East said Kakoullis’ experience makes him a match: ”Panos delivered significant transformational change at Deloitte, streamlining and simplifying the business and we look forward to benefitting from his expertise and experience as we deliver on our fundamental reorganisation”.
"We suspect the market might have been more immediately reassured by a familiar name, one with corporate experience, but it is hard to question Mr Kakoullis's experience, technical credentials and knowledge of driving the adoption of AI and advanced analytics”, Jefferies analyst - Sandy Morris commented.
Kakoullis is to join Rolls-Royce on May 3rd.
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