The Rolls Royce Holdings Plc ADR share price ended the trading day at $1.5150, up 11.40%, and has been trading in the $1.5700 to $1.4000 range for the last day. According to RYCEY’s three-month performance, the stock fell over -52.95% while the average volume was 13.03M.
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A primary provider of industrial technology, Rolls-Royce Holdings plc operates all over the world. There are four company segments: Civil Aerospace, Power Systems, Defense, and ITP Aero. Aero engines for large commercial aircraft, regional jets, and business aviation and aftermarket services, are made and manufactured in the Civil Aerospace segment. The Power Systems segment offers engines for marine, defense, power generation, and industrial applications.
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Latest Update
February 14, 2021, it was revealed on Sky News that Rolls-Royce will name former Deloitte partner Panos Kakoullis as its next CFO, the appointment is expected to take place as early as Monday.
Kakoullis’ arrival is coming at a time when the company has been severely disrupted by the COVID-19 crisis, as its airline customers have grounded planes.
As airlines struggle under new coronavirus travel restrictions, the aero engine manufacturer reduced forecasts for how much its engines will fly this year, saying this would result in cash outflows of 2 billion pounds
Stephen Daintith left Rolls-Royce last August, though he stayed back until the transition was complete. He then moved to Ocado, a British online supermarket and technology company. Since his departure the company has been looking for a replacement.
His LinkedIn profile indicates that Kakoullis was a partner at Deloitte UK for 20 years and had held the position of managing director of Global Audit and Assurance for four years at that big four accounting firm.
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Conclusion
Technology stocks offer investors a lot of opportunities. Technology represents a sector with high returns but does not mean it is without risks. Fast-moving technologies can undermine the leadership of once-leading companies. Furthermore, some promising startups can make a great splash, only to fade out quickly.
