Mark Irwin will take the helm from Rupert Soames, who is retiring after nine years at the UK government contractor.

A shifting of chairs outlined for Derwent London; Serco non-executive Clasper to leave; and Idox brings on board plural chair Chris Stone.

Rolls-Royce was once the darling of the aerospace sector. But heavy financial losses and a corruption scandal present challenges for the new CEO, and sheds light on risks and behaviour in the defence industry.