Glencore's chief Ivan Glasenberg to step down from trading firm

Move marks shift away from management team which floated the company in 2011

The billionaire boss of Glencore is to step down from the commodity trading firm next year, in a shift away from the management team that crystallised colossal fortunes during the company’s 2011 flotation.

Ivan Glasenberg, 63, who has been chief executive for 18 years, is to be replaced next year by Gary Nagle, the 45-year-old head of the firm’s coal assets, marking a shift to a younger generation of executives at the business.

Continue reading…

Source link