Rolls-Royce Holdings PLC (LSE:RR.) revealed Tufan Erginbilgic has been appointed as the engineering group's new chief executive and executive director.
He will start his new role on 1 January 2023, replacing Warren East, who announced in February his intention to step down.
“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,” Erginbilgic commented.
He has a background in engineering and international business, including over 20 years with BP PLC (LSE:BP.) and five years as part of its executive team.
In his time wth the company, Erginbilgic helped BP to achieve record profits and its best safety performance.
He led BP's downstream business, which included refining, petrochemicals, service station network, lubricants, midstream operations and the air BP jet fuel operation.
“He 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,” Anita Frew, Rolls-Royce chair, said.