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Report: Rolls-Royce COO to leave amid streamlining effort

Rolls-Royce Holdings plc said COO Simon Kirby will leave in June because the role he was recruited for in 2016 is no longer required with the company streamlining its business, Reuters reported, citing a memo to staff from CEO Warren East.

Kirby was hired away from British high-speed rail project HS2 to work on a groupwide transformation agenda at Rolls-Royce.

East reportedly said that the company needs a smaller and more cost-effective headquarters amid falling demand for oil equipment and weakness at some of its aerospace engine programs.