Forward article link
Share PDF with colleagues

Future Leader

Peter Ratatics, MOL Group

The visionary approach that Peter Ratatics takes to leadership is evident through the lead role he has taken in MOL Group's strategic transformation plan, which was launched in 2016.

Ratatics knew that transforming MOL from a largely domestic Hungarian-focused company to an integrated oil and gas industry leader in Central and Eastern Europe would require a different operational model. Thus, he built an advisory team that would take the lead in the largest reorganisation in the company's history.

Ratatics decided that a central governance headquarters was needed above the core operating companies. English was introduced as the company language and jobs were opened to international professionals. This resulted in a 25pc expatriate management ratio, a unique achievement in CE Europe.

Strong financial results have underlined this transformation strategy's success, and, as a result, Ratatics was given a lead role in implanting the firm's MOL 2030 corporate strategy, aimed at diversifying the company away from motor-fuels. As part of that strategy he proposed the separation of the company's classic retail operations from its downstream segment.

Today, the retail business is one of the main growth areas for MOL as it transforms into an innovative, consumer-focused goods and services provider. Following the adoption of the MOL 2030 strategy, Ratatics was appointed to head the now separate consumer services division, and appointed a member of MOL's executive board in February 2018.

Ratatics has consistently said that thinking out-of-the-box is important in order to develop seamless integrated services, and even envisions MOL running a fleet of autonomous cars and associated services in future, saying these will be used in urban transportation, revolutionising mobility and car ownership.

Also in this section
Permian M&A faces challenges
16 July 2019
Expectations of a post-Anadarko flurry of merger and acquisition activity in the prolific shale basin may be wide of the mark
Novatek targets huge Arctic gas resources
7 May 2019
The firm intends to become one of the world's largest LNG producers by 2030 via projects in the inhospitable Arctic environment
Petronas on an upward trajectory
29 April 2019
The company is balancing its upstream ambitions with government debt obligations, while finalising a key domestic downstream project