Rolls-Royce CEO Proves You Don't Need Private Equity to Get Rich
Tufan Erginbilgic has delivered outstanding performance in return for a potential £40 million payday.
The Rolls-Royce of golden hellos.
Photographer: Hollie Adams/BloombergLarge UK companies are under pressure to increase pay to recruit and retain top talent, but until recently I thought anyone wanting to earn really big money would still be better off working for a US firm or in private equity. However, a burgeoning windfall accruing to one FTSE 100 executive shows it can be just as lucrative to fly against the prevailing winds.
Thanks to a well-timed move last year from a US private equity firm to become the boss of aircraft engine maker Rolls-Royce Holdings Plc, Tufan Erginbilgic is on track for a £40 million ($51 million) payday. While eight-figure compensation packages typically raise hackles in the UK, I doubt anyone is vexed in this instance. Rolls-Royce’s investors have profited handsomely from his spirited leadership, with long-suffering employees also getting a share of the spoils.