Rolls-Royce boss says staff are behind dramatic company turnaround

Rolls-Royce has credited its workforce for one of the most dramatic corporate recoveries in British industry.

The aerospace and defence group has seen its shares rise by more than 1,000% since Tufan Erginbilgiç became chief executive at the start of 2023. The company says the recovery has been driven by a sharper business focus, stronger financial discipline and a more motivated workforce.

Speaking on Bloomberg’s Leaders With Francine Lacqua, Mr Erginbilgiç said the story was not about one person. He said it was about the roughly 50,000 people working across the company.

“It’s not about you, it’s about 50,000 people,” he said. He added that when a company grows, it creates “all sorts of opportunities” for employees.

For staff, investors and the wider UK economy, the message is clear. Rolls-Royce wants to show that its recovery is not just a stock market story, but a people-driven rebuild.

The company, best known for making engines for large aircraft, military platforms and power systems, had struggled badly during the pandemic. The collapse in international flying hit demand for engine servicing, a major source of income for the group.

Mr Erginbilgiç took over in January 2023 and moved quickly to reshape the business. Rolls-Royce announced plans in 2023 to cut up to 2,500 jobs as part of a wider efficiency programme.

The decision was painful, but it formed part of a broader plan to make the company leaner and more profitable. The group also focused on selling under-performing assets and improving performance across its core divisions.

The results have been striking. Rolls-Royce reported underlying operating profit of £3.5bn in 2025, up from £2.5bn in 2024. Its operating margin rose to 17.3%, compared with 13.8% a year earlier.

Free cash flow also reached £3.3bn in 2025, helping the company end the year with net cash of £1.9bn. Rolls-Royce has also announced a multi-year share buyback of between £7bn and £9bn for 2026 to 2028.

That is a major change for a company that once appeared weighed down by debt, restructuring and weak investor confidence.

Its Civil Aerospace division has been a key driver of the recovery. Rolls-Royce said the division benefited from stronger engine flying hours, improved aftermarket performance and better commercial terms.

The recovery in global aviation has also helped. More long-haul flights mean more demand for engine maintenance, servicing and spare parts.

But Mr Erginbilgiç has repeatedly argued that the company’s internal culture is just as important as external market conditions. He has focused on performance, accountability and speed of execution.

For employees, the turnaround could mean more investment, better career opportunities and a stronger future for the business. For shareholders, it has delivered one of the most powerful rebounds in the FTSE 100.

Still, Rolls-Royce faces challenges. Supply chain pressures remain a concern across the aerospace industry. The company must also keep improving engine reliability and delivery performance while meeting growing demand.

Even so, the latest figures suggest Rolls-Royce has moved from recovery mode into growth mode.

Its comeback now stands as one of the clearest examples of how leadership, discipline and workforce commitment can revive a major industrial company.