Rolls-Royce Holdings Plc appointed Stephen Daintith, an executive with the publisher of the Daily Mail tabloid, to oversee the embattled engine maker’s finances, extending a push to restructure management. Daintith, 52, will succeed David Smith as chief financial officer next year, Rolls-Royce said in a statement on Thursday. Smith, 55, is leaving the London-based manufacturer to “pursue other business interests” after three years on the job, only slightly longer than his predecessor. Daintith is currently CFO at Daily Mail & General Trust Plc and previously held executive positions at News International and Dow Jones & Co. Chief Executive Officer Warren East has been shaking up Rolls-Royce’s senior roles and cutting top management layers as he seeks to pare costs and turn the engineering behemoth into a more nimble organization capable of responding to shocks such as the collapse in oil prices. Rolls has been working to improve the company’s level of financial disclosure after a run of five profit warnings that started under the previous CEO, John Rishton. The move emphasizes “the CEO’s determination to inject more pace into the transformation of Rolls-Royce,” said Sandy Morris, an analyst at Jefferies in London. “The senior management team is likely to have to go at some lick for some years, so it is essential to have a team that can sustain that.” The U.K. manufacturer has suffered amid stuttering demand for engines that power regional planes, business jets and older wide-body aircraft. Sales of Rolls-Royce’s marine engines have also collapsed following the oil-price slide, and the company is at a critical stage of a ramp-up in production of a new series of turbines for the latest generation of Airbus Group SE and Boeing Co. airliners. Rolls-Royce shares fell as much as 2.3 percent and were down 0.9 percent at 719.5 pence as of 9:54 a.m. in London. That pared the stock’s gain this year to 27 percent, valuing the company at 13.2 billion pounds ($17.2 billion). Executive Changes Daintith joins Rolls-Royce amid a series of top executive changes, including this month’s appointment of Simon Kirby, previously head of the U.K.’s High Speed 2 railway, as the company’s first chief operating officer. The manufacturer has also set up a transformation team to oversee its restructuring and created a chief of staff position. East has streamlined the manufacturer by reducing the number of divisions to five from nine and eliminating more than 600 senior and middle-management positions. Daintith’s “deep understanding of international business and his record of achievement in change management are particularly relevant to Rolls-Royce as we build our business and respond to the growing global requirement for our technology,” East said in the statement. East, a former CEO of U.K. semiconductor-maker ARM Holdings Plc, appointed Eric Schulz in December to become head of the civil aerospace division. Schulz succeeded Tony Wood, who had led the unit for 2 1/2 years and had been tipped as a future chief of the group. At the same time, the company said Lawrie Haynes, the 62-year-old president of the troubled land and sea unit, would retire.