Rolls-Royce shakes up management structure

• Engine maker Rolls-Royce (OTCPK:RYCEY) has announced an overhaul of its senior management to revive its fortunes and growth following five profit warnings.
• As of January 1, the company will operate as five market facing businesses, with the presidents of Civil Aerospace, Defense Aerospace, Marine, Nuclear and Power Systems reporting directly to CEO Warren East.
• The decision will bring an end to the current divisional structure of Aerospace and Land & Sea, removing a layer of senior management.