Rolls-Royce's board has proposed a multimillion-pound bonus boost for its chief executive, Tufan Erginbilgic. The move aims to align his pay with industry peers following a sweeping corporate turnaround. The engineering giant seeks to retain top leadership talent as it emerges from a period of profound restructuring and financial recovery.

This remuneration adjustment comes after Erginbilgic led a dramatic turnaround since taking the helm in 2022. He steered the company through a major cost-cutting program and a successful rights issue, restoring profitability. Aligning his compensation with competitors is seen as crucial for motivating continued execution of the long-term strategy.

The proposal will face scrutiny at the upcoming annual general meeting, where shareholders will vote on the remuneration report. Investor sentiment will be closely watched, as the company balances rewarding leadership for past performance with future cost discipline. The outcome could signal broader trends in executive pay across the UK's industrial sector.