“Rolls-Royce Holdings Plc Chief Executive Officer Warren East revealed the full extent of the earnings meltdown facing Britain’s leading manufacturing company and said he’s uncovered issues with its organization and management that run deeper than was apparent when he took over in July. East’s comments come as a further blow to a business that was regarded as Britain’s biggest industrial success story, recovering from bankruptcy to become a poster child of Margaret Thatcher’s privatization drive and take on the likes of General Electric Co. The CEO said he sees no quick fix, effectively writing off a recovery before 2017, when the results of a restructuring plan begin filtering through.”
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