Rolls-Royce Holdings PLC’s new CEO (LSE:RR. Tufan Erginbilgic has given a harsh assessment to the company’s current condition, describing the jet engine manufacturer as a “burning platform”.
According to an insider quoted by the Financial Times, this appraisal was intended to open the door to a major shake-up of the 117-year old company.
Warren East’s replacement, Erginbilgic took control of the company at the beginning January. He stated that the company’s performance was “unsustainable” as well as “at a point [at which] it can no longer continue.”
He stated that this was the company’s final chance, and that he would be launching a transformation program with an emphasis on efficiency and optimization.
Staff are often told to expect more job cuts, especially among white-collar workers.
Post Disclaimer
The following content has been published by Stockmark.IT. All information utilised in the creation of this communication has been gathered from publicly available sources that we consider reliable. Nevertheless, we cannot guarantee the accuracy or completeness of this communication.
This communication is intended solely for informational purposes and should not be construed as an offer, recommendation, solicitation, inducement, or invitation by or on behalf of the Company or any affiliates to engage in any investment activities. The opinions and views expressed by the authors are their own and do not necessarily reflect those of the Company, its affiliates, or any other third party.
The services and products mentioned in this communication may not be suitable for all recipients, by continuing to read this website and its content you agree to the terms of this disclaimer.