Mr Erginbilgic’s stark appraisal was designed to pave the way for a big shake-up at the 117-year-old group, according to one person familiar with the address.
Addressing staff, Mr Erginbilgic said: “We do have a burning platform, not because I say so but because of what I am going to share with you.” The grounding of international air travel severely dented its civil aerospace business which still generates 40 per cent of the group’s underlying revenues. “He was honest about our financial underperformance compared with our peers, laid out his priorities for all of us and stressed the need for everyone within the business to work together in order for Rolls-Royce to succeed.”
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