Rolls-Royce new boss brands company’s performance “unsustainable”

The former executive at bp has allegedly said “every investment we make, we destroy value”

Big Zero Report 2022

Engineering giant Rolls-Royce has been called “a burning platform” having an “unsustainable” performance.

According to the Financial Times, Tufan Erginbilgic told staff “every investment we make, we destroy value.”

The new boss of Rolls-Royce had led bp’s downstream business, which included refining, petrochemicals and the Air bp jet fuel operation.

In recent years, Rolls-Royce and its business division Rolls-Royce SMR have developed the design of a new nuclear Small Modular Reactor factory.

A Rolls-Royce spokesperson told ELN: “Our new Chief Executive Officer Tufan Erginbilgic has been speaking with all our people about the need to significantly improve the performance of Rolls-Royce.

“He was honest about our financial underperformance compared with our peers, laid out his priorities for all of us and stressed the need for everyone within the business to work together in order for Rolls-Royce to succeed.

“Our intention throughout this process is to be as open and transparent with our people as we can be. Although it is regrettable that someone has decided to leak details of Tufan’s employee message to the media, we will continue to speak with our people first, whenever that is possible given our obligations as a publicly-listed company.”

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