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The Turkish CEO Behind the Rolls-Royce Turnaround: Tufan Erginbilgiç Rescues Company From Brink, Drives Historic Revival

  • Writer: Nejla Kılınç
    Nejla Kılınç
  • Jan 7
  • 2 min read

Rolls-Royce has recorded extraordinary growth over the past two years under the leadership of its Turkish CEO, Tufan Erginbilgiç. The company’s share price surged from £1 to £12, while its market value multiplied several times over. As part of his performance-based compensation, Rolls-Royce is set to award Erginbilgiç shares worth £106 million.


Nicknamed “Turbo Tufan,” Erginbilgiç is poised to receive one of the largest executive payouts in British business history.


Who is Tufan Erginbilgiç?

Tufan Erginbilgiç is 61 years old and originally from Artvin, Türkiye. He completed his undergraduate studies in Business Engineering at Istanbul Technical University in 1982, followed by an MBA at Boğaziçi University. In 1989, he earned a master’s degree in economics from Ohio State University.


He began his career at Mobil Oil and joined BP following the BP–Mobil merger in 1996. After working at Mobil between 1990 and 1997, he spent more than 20 years at BP, including five years as a member of the company’s senior executive leadership.


In his final role at BP, Erginbilgiç served as CEO of the Global Refining and Marketing Group, overseeing refining, petrochemicals, and marketing operations. During his tenure, the group delivered record levels of profitability and operational safety.


Erginbilgiç left BP in 2020 and was appointed CEO of Rolls-Royce in 2023. At the time, the company was struggling with heavy debt and deep strategic challenges. He introduced a radical transformation plan that included:

  • A workforce reduction of 2,500 employees

  • A sharp cost-cutting program focused on operational efficiency

  • Structural reforms aimed at restoring investor confidence

  • Rapid recovery, rising profitability, and sustained market growth


Record-Breaking Value Creation

Once synonymous with financial strain, Rolls-Royce has undergone a dramatic revival over the past two years:

  • The company’s market capitalization has exceeded £100 billion, making it the fifth most valuable firm on the London Stock Exchange.

  • Expected operating profit for 2025 is projected to rise by 26 percent, reaching £3.1–£3.2 billion.

  • Civil aviation and defense revenues have been the primary drivers of the recovery.


Source: The Times

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