Rolls-Royce CEO to Earn £24.4 Million with 550% Pay Rise
RollsRoyce, a global giant in the aviation, defense, and energy sectors, has made headlines with a new incentive and wage package prepared for its Turkish executive, Tufan Erginbilgiç. Erginbilgiç, who took the helm of the company in 2023, will receive a 550% increase in his salary if he achieves the set strategic and financial targets. The Turkish CEO's salary could reach 1.6 billion TL.
Maaşı 1.6 milyar TL'ye ulaşacak.
The new incentive program announced by the management of RollsRoyce has catapulted the salary of the Turkish CEO to an entirely different level. If Erginbilgiç meets his targets, he will receive a raise of 550 percent.
Currently, Tufan Erginbilgiç's total annual earnings stand at around 4.4 million pounds. However, should he hit his targets, his salary will skyrocket to 24.4 million pounds. According to a report by Burçin Uysal from the World of Bosses, this figure corresponds to approximately 1.6 billion Turkish Liras based on current exchange rates.
With this figure, the Turkish CEO will be positioned not only among the highest earners in the UK and Europe, but also among the top executives worldwide.
According to research, Tufan Erginbilgic is one of the highest earning executives.
According to a study examining the salaries of FTSE 100 company CEOs, Erginbilgiç is among the executives with the highest earning potential in the UK.
If the Turkish CEO's salary rises to 24.4 million pounds, he will become one of the highest earning executives on a global scale. On the other hand, Tufan Erginbilgiç, who harshly criticized the current state of RollsRoyce when he took office in January 2023 and described the company as a 'burning platform,' has made a historic recovery in financial statements with the transformation program he implemented in a short time.
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