(Sharecast News) - Rolls-Royce on Tuesday said that non-executive director Bradley Singer, a representative of the aerospace and defence giant's largest shareholder, has stepped down from the board with immediate effect.
Singer, who serves as chief operating officer of San Francisco-based investment company ValueAct, had been a member of the FTSE 100 company's board for almost four years.
According to Thomson Reuters data, ValueAct holds a 9.35% stake in the British car manufacturer.
Chairman Ian Davis said: "I would like to thank Brad for his service to the company since joining the board in 2016. He has played a key role on the board throughout that time, offering a valued external perspective and helping us to drive progress in our efforts to transform Rolls-Royce.
"I and all my colleagues have appreciated Brad's insight and commitment to the company and it has been a pleasure to work alongside him."
At 0930 GMT, the shares were down 4.5% at 692.60p.
Rolls-Royce (RR.)29 Apr 2024 11:20
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