Ivan Glasenberg to leave Glencore within six months
The billionaire empire-builder will hand the reins to another South African, Gary Nagle
04 December 2020 - 18:36
London — Ivan Glasenberg, a former coal trader who became the billionaire boss of Glencore, will step down as the commodities behemoth navigates through corruption probes, scrutiny of its environmental bona fides and a share price that’s lost half its value during the past decade.
The CEO will relinquish his position within the next six months, he told investors on Friday. He’ll be replaced by fellow South African Gary Nagle, who now oversees the company’s coal assets. Glencore’s London-listed shares rose...
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