Rolls-Royce to set up safety committee The company's 2011 annual report says the engine blow-out prompted chairman Sir Simon Robertson to launch an internal review of how the board operated during the crisis and that Rolls conducted a "thorough 'lessons learnt' exercise." Sir Simon says the committee is to be established "due to the importance of safety in our business, both in terms of the safety of our products and the health and safety of our employees." The report also reveals that boutique company JCA Partners conducted a review of the board's effectiveness which "included confidential, unattributable, one-on-one interviews with each board member." The review revealed that the board "unanimously agreed" it was working as an "effective whole." Despite the Qantas blow-out, Rolls delivered record underlying pre-tax profits of £1.16bn in 2011. The order book also stands at a record £62.2bn, driven by engine orders for Airbus and Boeing aircraft. The success of the company means Sir John Rose, the long-standing chief executive who retired last March, has been awarded £3.3m as part of a long-term incentive plan. The performance share plan measured the company between 2009 and 2011, during which time the company's shares rose 187pc. New chief executive John Rishton collected £1.9m in salary and bonuses for 2011 and the entire board earned £7.8m. This compares with £7.9m in 2010. Dame Helen Alexander, chairwoman of the remuneration committee, said: "We support the clear message on executive remuneration sent by BIS in the UK that: 'Generous rewards for leading executives are not an issue where executive remuneration is well-structured, clearly linked to the strategic objectives of a company, and which rewards executives that contribute to the long-term success of that company'. The committee's view is that the performance of the group, backed by the growth in the Rolls-Royce share price in recent years, warrants the rewards which our executives will receive in 2012.