Timeline: John Rishton's reign at Rolls-Royce

Rolls-Royce has announced that John Rishton will be stepping down as its chief executive. Here is a timeline of his four-year term as CEO at the UK aerospace group.

March 2011Mr Rishton, a Briton who formerly ran Dutch retailer Ahold, joins Rolls-Royce as chief executive, succeeding Sir John Rose who had led the company for 14 years

June 2011Qantas reaches a settlement with Rolls-Royce over compensation for flight disruptions caused by the explosion of one of the UK company's engines on an Airbus A380 in November 2010

December 2012Rolls-Royce warns it faces the possibility of prosecution after the Serious Fraud Office and an internal investigation raise concerns about corruption and bribery in Indonesia, China and other overseas markets

January 2013The company appoints Lord Gold to review its compliance procedures, following bribery allegations

June 2013Rolls-Royce admits it "clearly fell short" of its own safety standards after a report by Australian regulators. The investigation into an engine explosion on a Qantas A380 superjumbo aircraft identifies serious failures in the UK manufacturer's culture and manufacturing

December 2013The UK SFO launches a criminal investigation into allegations of bribery and corruption at Rolls-Royce. The probe subsequently secures special funding from the Treasury

January 2014Rolls-Royce ends talks with Wartsila over a bid for the Finnish marine engineer that could have been worth almost £8bn

February 2014The UK company issues a first profit warning, revealing that underlying group revenue and profit for 2014 would be flat for the first time in a decade, partly because of cuts in defence spending by western governments

April 2014Rolls-Royce confirms it will sell part of its energy division to Siemens for about £900m

June 2014The UK engineering company unveils a £1bn share buyback and reassures investors that it does not plan to make any large acquisitions in the near future

July 2014Rolls-Royce scales back expectations in its marine business for the second time in a year

October 2014The company issues its third profit warning in nine months, telling investors its profit could shrink in 2015 having previously predicted earnings growth

November 2014Rolls-Royce announces plans to cut the group's 55,000 workforce by 2,600, its biggest job reduction programme in six years. It also announces the appointment of David Smith as its chief financial officer

February 13 2015The company makes its fifth profit warning in the space of a year, after conceding that its profit guidance for 2015 was too high given the heavy investment demands it faces from a record order book

February 15Rolls-Royce is accused by a former Petrobras executive of paying bribes via an agent in exchange for a $100m contract. The company says it will co-operate with Brazilian authorities if they press ahead with an investigation into the allegations

April 16Rolls-Royce secures one of the biggest deals in its history, with an order for some 200 engines to power Airbus A380 superjumbos for Emirates Airline

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