Rolls-Royce said it would quadruple its profits in the next four years and sell its electric aircraft division as chief executive Tufan Erginbilgic tries to make good on his promise to turn around the UK aerospace company.
The demanding profit target is the centrepiece of a long-awaited shake-up by Erginbilgic, a former BP executive who was parachuted into the top job in January to help Rolls-Royce recover from the damage inflicted by the pandemic and previous restructurings.
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