Rolls-Royce has named former ARM Holdings CEO Warren East to succeed current CEO John Rishton, who is retiring July 2. Rishton has been CEO for nearly four years and was previously CFO for 10 years.

Rolls-Royce chairman Ian Davis said that during Rishton’s tenure, “profits have increased by 69%, the order book has grown by 24% and the share price has risen 63%.”

East led semi-conductor firm ARM Holdings from 2001 to 2013 and has been a Rolls-Royce non-executive director since January 2014. He also serves as a non-executive director of BT, De La Rue, Dyson, Micron and Digital Catapult. His will stand down from all but one of these non-executive director roles, in line with Rolls-Royce policy.

“Warren has an outstanding record as CEO of ARM Holdings,” Davis said. “He is an engineer by training; he has a deep understanding of technology and of developing long-term partnerships. He has proven strategic and leadership skills in a global business and a strong record of value creation.”