Business Standard

Rolls-Royce's performance 'unsustainable', says CEO Tufan Erginbilgic

The new CEO Erginbilgic told employees that they lose money in every investment and investors were losing patience with the engineering group

Tufan Erginbilgic
Premium

Tufan Erginbilgic (Photo: Bloomberg)

BS Web Team New Delhi
Rolls-Royce's performance is 'unsustainable' and it is underperforming every key competitor, the new Chief Executive Officer Tufan Erginbilgic said in a global address to staff, as reported by the Financial Times (FT)

"It is at a level [at which] it cannot continue. Rolls-Royce has not been performing for a long, long time, it has nothing to do with Covid, let's be very clear. Covid created a crisis, but the issue in hand has nothing to do with it," he said.

He told employees that they were losing money in every investment, and investors were losing patience with the engineering group. 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 27 2023 | 12:04 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com