BP Executive Hired By Rolls-Royce to Lead Overhaul

Tuesday saw the appointment of an executive from his old employer BP to help revamp the aerospace behemoth by the new chief executive of British aircraft engine manufacturer Rolls-Royce.

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As transformation director, Nicola Grady-Smith has been hired by Tufan Erginbilgic, who took over for longtime leader Warren East at the beginning of the year, according to a business spokeswoman.

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Grady-Smith worked with BP for 18 years in a variety of capacities, including as the division's downstream chief of staff under Erginbilgic at the time.

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The spokesman continued, "She is an accomplished leader with substantial worldwide turnaround expertise and a proven track record of delivery."

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"Nicola will be crucial in achieving that, as Tufan made plain to employees last month, to considerably improve Rolls-performance." Royce's

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On February 23, the company will release yearly results along with more information about the turnaround strategy. Erginbilgic, a dual citizen of the UK and Turkey, spent more than 20 years working for petroleum giant BP. After a turbulent eight years in charge, the former CEO of Rolls-Royce, East, made the decision to retire.

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In order to prepare for the negative effects of a pandemic on the aviation industry, the group cut more than 9,000 positions during his term and initiated a significant divestment campaign in 2020.

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Rolls-Royce revealed plans to build small, inexpensive nuclear reactors in 2021.

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A hydrogen-powered aircraft engine was successfully tested by the group in 2022 with UK airline EasyJet, which they described as a first in aviation history.

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On the soaring London stock market, Rolls-share Royce's price declined 0.1 percent to close Tuesday at 107.96 pence.