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BUZZ-Rolls-Royce: at 8-mth highs on boardroom reshuffle

Reuters - UK Focus

** Rolls-Royce up at 8-mth highs on surprise appointment of new CEO

** Co says Chief Executive John Rishton will retire in July, & be succeeded by Warren East, former leader of chip designer ARM (between 2001 & 2013)

** RR warned in February profits could fall as much as 13 pct this year, on top of an 8 pct drop last yr

** JPMorgan (LSE: JPIU.L - news) upgrades rating on RR to "neutral" vs "underweight" after news (reckons it was unanticipated by mkt); flags ARM's share price rose from c.250p to c1,000p during East's tenure there

** Stock, up 3.3 pct, top FTSE 100 riser in robust volume (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)