Aerospace boss quits Rolls-Royce

Mr King, who had spent 27 years at Rolls, was previously head of its civil aerospace business and became chief of the combined civil and defence aero division in January.

Rolls gave no reason for his departure. A company spokesman said it was Mr King’s personal decision to leave, but did not say if he would get a payoff and declined further comment.

Mr King could not be reached for comment.

Rolls, the world’s second-largest maker of aircraft engines behind US group General Electric, said Mr King would be replaced by Tony Wood, president of its marine unit, on May 13.

Mr Wood, who has spent 12 years at Rolls, has previously worked as an executive across its aerospace business.

Analyst Sandy Morris, at brokerage Jefferies, said Mr King was “a highly regarded member of the management team... reflected in the perceptions of investors and analysts alike”, adding his departure was “not going to pass unremarked”.

He said he assumed Mr King was leaving Rolls “for personal reasons”.

Aerospace accounted for £8.8bn of the group’s £12.2bn revenue in 2012.

Mr King led the relaunch of an engine designed for the largest version of the Airbus’s long-haul A350 to try to puncture the success of Boeing’s rival 777, backed by General Electric.