‘We underperform every key competitor out there,’ staff are told in global address by Tufan Erginbilgic
The new chief executive of Rolls-Royce has given a brutal assessment of Britain’s flagship engineering group, telling employees it must transform the way it operates or it will not survive. In a global address broadcast to staff, parts of which were shared with the Financial Times, Tufan Erginbilgic warned investors were losing patience with the FTSE 100 group. The Turkish-British national took over from Warren East at the start of January with a brief to improve Rolls-Royce’s performance.
Xanadu, the world leader in photonic quantum computing, and Rolls-Royce are co-developing new quantum algorithm tooling for PennyLane, Xanadu's open-source quantum computing software widely used for quantum machine learning, chemistry, and optimization.