Rolls will also appoint a chief operating officer in the new year.
"The new structure will clarify executive accountabilities, intensify leadership focus on operational performance and allow Rolls-Royce to build on its world class engineering capabilities," Rolls said in a statement.
Earlier this week reports suggested that its submarine division, which powers the UK's Trident nuclear deterrent, could be nationalised as the Government seeks to defend it from potential takeovers.
