Rolls-Royce new boss nets £22m paper profit after share price rally
The new boss of Rolls-Royce has made a £22m paper profit on his shares in the FTSE-100 giant after engineering a remarkable share price rally last year.
Tufan Erginbilgiç, a former BP executive, joined Rolls-Royce last January after years of turmoil which included a brush with bankruptcy during the pandemic.
The Turkish businessman described the company as a “burning platform” and said it’s performance was “unsustainable,” shortly after taking the top job.
Huge demand for jet engines, coupled with increasing military spending globally have been key to the firm’s success alongside Erginbilgiç’s leadership.