Rolls-Royce has announced the appointment of Tufan Erginbilgic as chief executive officer and an executive director of Rolls-Royce Holdings plc.
Erginbilgic will take up his new role on January 1, 2023, succeeding Warren East who, on February 24, 2022, announced his intention to step down at the end of this year, the company said in a statement on Tuesday.
Erginbilgic, who has a background in engineering, has built his career in international business including over 20 years with BP, with five years as part of its executive team. In his last role before leaving in 2020, he led BP’s downstream business, which included Refining, Petrochemicals, Service Station Network, Lubricants, Midstream operations and the Air BP jet fuel operation. During Erginbilgic’s tenure, the business was transformed, achieving record profitability and delivering record-setting safety performance.
He has held several non-executive directorships in heavy industry and manufacturing companies, including at aerospace technology group GKN.
Erginbilgic is currently a partner at Global Infrastructure Partners (GIP), a private equity firm which focuses on large-scale investments in infrastructure businesses and manages $81bn for investors.
Upon joining Rolls-Royce, Erginbilgic will receive a base salary of £1.25m, 30% of which will be paid as shares deferred for two years.
Anita Frew, Chair, Rolls-Royce, said Erginbilgic 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,” she added.
“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,” said Erginbilgic, a UK and Turkish national.
He is currently a non-executive director of multinational transport vehicle manufacturer Iveco Group NV; energy, healthcare and technology group DCC plc; and energy company Türkiye Petrol Rafinerileri A.Ş (Tupras) and will be reviewing his involvement in these positions.