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Rolls-Royce CEO's bold revamp pays off
February 28, 2025
|Mint Kolkata
The luxury car maker's shares surged 17% to record levels, as its 2024 results surpassed street expectations
In his two years as chief executive officer of Rolls-Royce Holdings Plc, Tufan Erginbilgic has turned the company he once derided as a "burning platform" into a case study for reviving a moribund industrial icon. The former oil-company executive slashed jobs, sold off underperforming assets and pulled back on efforts with questionable profit potential.
The result is a nearly eightfold rise in shares of the aerospace engine supplier, the biggest gain by far among members of the FTSE 100 Index of blue-chip UK companies.
There's more to come, the CEO said Thursday. "We have made good progress but we are not done yet," Erginbilgic, 65, told reporters on a call after raising its profit outlook, reinstating a dividend and launching a £1 billion ($1.27 billion) stock buyback. "We are taking Rolls-Royce to a place it has never been before."
هذه القصة من طبعة February 28, 2025 من Mint Kolkata.
اشترك في Magzter GOLD للوصول إلى آلاف القصص المتميزة المنسقة، وأكثر من 9000 مجلة وصحيفة.
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