Who is John Reece?
He is CFO at Ineos and owns approx. 20% of the companies’ shares.
He was born in 1957 and used to be a chartered accountant at Price Waterhouse. He joined Ineos as CFO in 2020.
His 20% stake in Ineos is now worth $ 6 billion.
We were told he owns the yacht Grace (Ex Kibo). He also owns the Feadship yacht New Hampshire, but she is listed for sale.
In 1998 Jim Ratcliffe formed Ineos. Ratcliffe acquired unwanted operations from companies as BP and Imperial Chemical Industries. ICI is now part of Akzo Nobel. He used high yield debt to finance the deals.
Ratcliffe’s biggest acquisition was the GBP 5 billion purchase of BP’s Innovene petrochemical operation. Which was giving him refineries in Scotland, Italy, Germany, France, Belgium, and Canada.
The INEOS Group is active with fracking and shale gas in the UK. In 2000 both John Reece (CFO) and Andrew Currie (COO) joined Ineos. They were given a share of the companies equity, which made them both billionaires.
Ineos Shareholder’s Yachts
Ratcliffe, Reece and Currie all own Feadship yachts, which they name Hampshire. Currie owns the Feadship yacht Hampshire, Ratcliffe owns Hampshire II, Reece owns New Hampshire (which he bought from Ratcliffe). New Hampshire was listed for sale, around the period that Kibo was renamed into Grace.. So the Abeking Grace is a break with this tradition. We are therefore a bit in doubt if Reece is the actual owner of the yacht Grace. Do you have more info? Please do send us a message.