Why Anthony Bamford expelled elder son from business?

As per reports, Bamford's eldest son, Joe Bamford, had asked his father to step down from the company's leadership, which the 80-year-old business tycoon saw as a sort of coup attempt by his own son, leading to frictions within the family.

According to industry insiders, Joe Bamford had long been considered as the the future leader of JCB, and Lord Bamford's decision to appoint his youngest son as successor has shocked many.

Who is George Bamford?

The third and youngest child of Anthony Bamford, George Bamford has built a successful luxury watch business under the Bamford brand, churning out bespoke English cut premium watches at the Bamford Watch Department.

However, after being appointed Deputy Chairman and named future heir by his father, George has begun devoting more time at JCB to help prepare for his future leadership role within the company. Notably, while Bamford has named George as heir, the JCB's Board of Directors has not yet formalized the decision.

Meanwhile, Anthony's elder son and George's older brother, Joe Bamford, is also a distinguished businessman in his own right, and runs Ryze Power, a green energy company that produced hydrogen-based clean fuel.

How big is JCB's business?

Established by Anthony Bamford's father Joseph Cyril Bamford in October 1945 towards the end of the second world war in the United Kingdom, JCB is today one of the world's largest construction equipment manufacturers.

The company boasts 22 factories spread across four continents and has an employee headcount of more than 19,000 workers, with an annual turnover of 6.5 billion pounds.

Lord Bamford has often stated that it is important to him that JCB remains a family-run business, though the 80-year-old chairman has acknowledged his inability to run the company in his old age, and the inevitability of new generation having to take over the responsibility in the future.