Rolls-Royce boss laid low by stroke

ROLLS-Royce was dealt another blow today as non-executive chairman Euan Baird suffered a stroke that will keep him away from the aerospace group for at least three months.

Cambridge-educated Baird, 66, has a three-year contract worth £275,000 per annum.

Since taking the job, he has been engaged in lengthy and often hostile negotiations with unions to try to wipe out the £1.1bn pension fund deficit.

Union members last night narrowly voted to accept a deal that would steadily reduce the deficit over 10 years. Rolls-Royce shares dipped 1 1/4p to 168p on news of his illness.

Baird was previously chairman and chief executive of Schlumberger, the specialised oilfield services group, before he took over from long-serving Sir Ralph Robins in March.

During his absence, deputy chairman Lord Moore of Lower Marsh will assume his responsibilities.