Rolls-Royce Names Panos Kakoullis New CFO
Rolls-Royce aircraft engine. Credit: Mark Kobayashi Hillary/ CC BY 2.0
British aircraft engine maker Rolls-Royce will name Panos Kakoullis as its new CFO, Reuters reported on Monday. Kakoullis will start in his new role on May 3.
The company hopes that the Greek-British Kakoullis, former head of audit and assurance at Deloitte, will successfully guide the company through the coronavirus pandemic.
As the the second-largest maker of aircraft engines, Rolls Royce has taken major hits due to the dramatic decrease in air travel caused by the coronavirus.
Airlines pay the company by the number of hours each plane is in flight. Accordingly, as the travel industry has come to a standstill, Rolls Royce faced severe financial difficulty in the past year.
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