Rolls-Royce, Volvo Replace CEOs as Activist Investors Gain Clout
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Europe’s activist spring may be here, with Rolls-Royce Holdings Plc and Volvo AB the latest to announce management changes after pressure from investors.
Shares of Rolls-Royce gained as much as 5.4 percent after the maker of aircraft engines named Warren East chief executive officer to replace John Rishton. Volvo surged 16 percent after it said Martin Lundstedt, the top executive at rival truckmaker Scania AB, will succeed Olof Persson as CEO.