ValueAct Representative Steps Down from Rolls-Royce Board; Shares Slip

Data : 10/12/2019 @ 13:16
Fonte : Dow Jones News
Titolo : Rolls-royce Holdings Plc (RR.)
Quotazione : 364.7  -40.5 (-10.00%) @ 17:35
Quotazione Rolls-royce Grafico

ValueAct Representative Steps Down from Rolls-Royce Board; Shares Slip

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By Anthony O. Goriainoff

 

Shares in Rolls-Royce Holdings PLC (RR.LN) sank Tuesday after a representative of its largest shareholder stepped down from the board.

Nonexecutive Director Bradley Singer stepped down from the board of the British engine maker on Monday. Mr. Bradley is a partner and chief operating officer at ValueAct Capital, an activist investor with a 9.35% stake in Rolls-Royce.

ValueAct became the company's largest investor in 2015 but sold a 1.5% stake in the business in March.

Shares at 1140 GMT were down 23.40 pence, or 3.3%, at 701 pence, making it one of the top fallers in the FTSE 100.

 

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

 

(END) Dow Jones Newswires

December 10, 2019 07:01 ET (12:01 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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