The impending retirement of Glencore’s copper kingpin Telis Mistakidis marks the start of a generational shift at the top of the world’s most powerful commodity trader. While some senior executives have left the Switzerland-based group since its 2011 stock market flotation, none of the inner circle surrounding the company’s workaholic boss, Ivan Glasenberg, have left — until now. The departure later this year of Mistakidis signals the break-up of the so-called billionaire boys’ club, which built risk-hungry Glencore into the commodity industry’s dominant and most talked-about company, according to analysts, bankers and investors. The leadership changes come as Glencore faces a string of legal challenges, including a US department of justice investigation into possible corruption and bribery that has put its business model under the microscope. “They are facing attacks on multiple fronts,” said Anneke Van Woudenberg, executive director of Rights and Accountability in Development, a c...

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