UK-based global major power and propulsion systems group Rolls-Royce announced, on Tuesday, the identity of its new CEO. He is Tufan Erginbilgic and he will take up the position on January 1 next year, following the departure of current CEO Warren East, who announced his decision to step down from his post on February 24.
Erginbilgic reportedly holds dual British and Turkish nationality. According to Rolls-Royce, he has a background in engineering and has extensive experience in international business. This experience included more than 20 years working for global giant energy company BP, which he left in 2020. His last role at BP was heading the group’s downstream businesses. These included the Air bp jet fuel business, serving aviation, as well as refining, petrochemicals, lubricants, midstream operations and the service station network. Rolls-Royce stated that he “transformed” BP’s downstream business. Under him, it achieved both record profits and record safety levels.
He has also held non-executive directorships in manufacturing and heavy industrial companies. One of these was aerospace technology group GKN. His current position was as a partner in private equity firm Global Infrastructure Partners, which manages investors’ assets totalling $81-billion.
“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,” said Erginbilgic. “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.”
“[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,” highlighted Rolls-Royce chair Anita Frew. “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.”