Rolls-Royce CEO Tufan Erginbilgiç could earn up to £18.5 million this year under a new remuneration plan, making him one of the UK's highest-paid FTSE 100 executives. The aerospace group's annual report shows his package includes a boosted annual bonus and long-term incentive awards, reflecting the company's dramatic turnaround under his leadership since 2023.

Erginbilgiç's potential earnings would nearly match AstraZeneca CEO Pascal Soriot's £18.9 million maximum pay. The package comes as Rolls-Royce's share price has soared 1,300 percent since January 2023, pushing market capitalization from £8 billion to £108 billion. The company consulted top shareholders before proposing the increase, citing Erginbilgiç's role in driving this exceptional performance.

The revamped plan increases his annual bonus entitlement to 300 percent of base salary and long-term incentives to 750 percent. Erginbilgiç already holds shares worth over £100 million granted upon joining from Global Infrastructure Partners. Shareholders will vote on the new remuneration policy at next month's annual meeting, where Rolls-Royce argues the package aligns with the company's transformed financial position and market standing.