British billionaire Sir Jim Ratcliffe has installed his son as head of the North American division of Ineos Automotive.
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George Ratcliffe, the middle of Sir Jim’s three children, becomes President of the Americas ‘with immediate effect’, the company announced on Wednesday.
George joined Ineos, the chemicals business his father founded, as a graduate trainee after graduating from Bath University with a degree in economics.
Now in his 30s, Ratcliffe Jr has held a number of positions within his father’s empire, including chief operating officer of Ineos’ hygienics business and commercial director of Ineos Enterprises. Most recently he served as commercial director of Ineos Automotive.
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The new role will see George Ratcliffe ‘focus on growing the brand and expanding the sales network’ in North America.
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Announcing the appointment, Lynn Calder, CEO of Ineos Automotive said: ‘As our business expands, it’s imperative the leadership team evolves to reflect growing priorities. George’s move to the US reflects the importance of North America, following our successful launch there over the past 18 months.’ Mike Whittington, currently SVP Global Sales & Aftersales, will take on a new position of Chief Commercial Officer.
Sir Jim Ratcliffe, whose estimated net worth of £23.519 billion, makes him the fourth wealthiest person on the Sunday Times Rich List 2024, founded Ineos in 1998. In 2020, he officially changed his tax residence from the UK to Monaco.
In February 2024, he used some of his fortune to buy a minority stake in Manchester United, gaining control over sporting operations. He has also bought 400,000 acres of Iceland wilderness with the aim of preserving it against developers.
George Ratcliffe has previously commented on whether he is being primed to succeed his father, now 71, as CEO of Ineos, insisting it is ‘not a given’.
‘In a very honest way he’s made that very clear, and I think he wants to make that clear in Ineos, saying it’s meritocracy,’ he previously told the Daily Telegraph. ‘I’ve got a very unique situation in Ineos, and I feel I have to earn it and justify it.’
