Rolls-Royce names new CEO

Tufan Erginbilgic (Image: BP)

Rolls-Royce has appointed Tufan Erginbilgic as its new chief executive officer.

Erginbilgic will succeed Warren East in the hot seat at the Derby-headquartered manufacturer on 1 January 2023.

East revealed his plans to step down at the end of last year after almost eight years at the helm, with the decision following a remarkable turnaround which saw the firm turn a £3.1bn loss into a profit of £124m in 2021.

Erginbilgic spent more than 20 years in executive roles with BP, during which time the business achieved record profitability and delivered a record-setting safety performance.

He has held several non-executive directorships, including at aerospace technology group GKN, and is currently a partner at the private equity firm Global Infrastructure Partners (GIP).

Erginbilgic is also a non-executive director of the multinational transport vehicle manufacturer Iveco Group NV; the energy, healthcare and technology group DCC plc; and energy company Türkiye Petrol Rafinerileri A.Ş (Tupras).

Rolls-Royce chair Anita Frew said: “I am delighted to announce the appointment of Tufan Erginbilgic as chief executive.

“He is a proven leader of winning teams within complex multinational organisations, with an ability to drive a high-performance culture and deliver results for investors. He has extensive strategic and operational experience and a firm understanding of safety critical industries, including aerospace, as well as the challenges and commercial opportunities presented by the drive for low carbon technologies.

“He has a strong track record for execution, delivery and the creation of significant value. I look forward to him building on the strategic foundations that Rolls-Royce has laid over recent years.”

Erginbilgic said: “I am honoured to be joining Rolls-Royce at a time of significant commercial opportunity and strategic evolution as its customers embrace the energy transition. I am determined to deliver the full potential of the market positions which the company has built over many years, through its engineering excellence and innovative technology, and to build a platform for growth in order to create value for all stakeholders.

“I look forward to working with customers, partners and the Rolls-Royce team across the world on the next successful chapter for this iconic global engineering brand.”

Click here to sign up to receive our new South West business news...
Close