I have worked with Gary since he joined the company twenty years ago. According to several current and former colleagues, he clashed with the then bosses of the copper, lead and zinc department, Telis Mistakidis and Daniel Mate, leading to his transfer to the grain division in 2008, from where he moved to nickel. I am confident that his leadership, along with the support of the management team, will enable Glencore to take advantage of the opportunities that lie ahead and be a strong custodian for my shareholding in the company., I am grateful for the trust placed in me by the Board and honoured to be appointed CEO at such an exciting time for Glencore. Ivan Glasenberg - Forbes Nagle, a 45-year old South African, has held senior roles in coal and ferroalloys in Colombia, South Africa and Australia. Executive Summary. Media Charles Watenphul t: +41 41 709 24 62 m: +41 79 904 33 20 charles.watenphul@glencore.com, Investors Martin Fewings t: +41 41 709 2880 m: +41 79 737 5642 martin.fewings@glencore.com, Maartje Collignon t: +41 41 709 3269 m: +41 79 197 4202 maartje.collignon@glencore.com. This cookie is set by GDPR Cookie Consent plugin. [12][13][14], Glasenberg became CEO of the merged entity created when Glencore and Xstrata finalised one of the largest mining company mergers in history creating an US$88billion company. Glencore Statistics And Demographics - Zippia We are an active participant in the Extractive Industries Transparency Initiative. Nagle, 44, is also the most asset-focused of the likely successors. Glencore plc announces that Ivan Glasenberg will retire as CEO and as a member of the Glencore Board during the first half of 2021. The data includes the number of visits, average duration of the visit on the website, pages visited, etc. Mr Nagle intends to relocate from Australia to Switzerland early next year and will work with Mr Glasenberg to effect the transition. The appointment reflects a change in. If you wanted to put a bet on one of the three I would have bet on him." George Cheveley, portfolio manager at asset manager Ninety One said: "Gary has been favoured for years. These forecasts are far from certain. 5 free lookups per month. This cookie is used to collect user information such as what pages have been viewed on the website for creating profiles. The departing boss burst on to the Citys radar nine years ago as his companys flotation revealed his paper fortune of nearly 6bn a figure so large that his 3,600 neighbours in the Swiss village of Rschlikon got a tax cut. Learn more about the Glencore's demographics and statistics by exploring diversity metrics and key facts about the company. Records the default button state of the corresponding category & the status of CCPA. But opting out of some of these cookies may affect your browsing experience. DoJ targets Glasenberg's Glencore | Financial Times The simple answer is: because our Maverick Insider members contributions pay our salaries. "I hope will be better than me - I still own a large part of the company and intend owning that for the future," he said, adding that Nagle would maintain the company's culture. Colin Glasenberg is currently Head of Oil, Industrial Assets at Glencore - View - Glencore org chart Create your alert to follow the career of Colin Glasenberg. Glencore appoints CEO Glasenberg's newphew to run oil assets The main purpose of this cookie is targeting, advertesing and effective marketing. Education This cookie is associated with Quantserve to track anonymously how a user interact with the website. The main business activity of this cookie is targeting and advertising. Find contact details for 700 million professionals. What he has achieved is unique. Colin Glasenberg, who joined Glencore's energy business in 2011, is now part of senior management and oversees oil fields in Chad and Equatorial Guinea. (Bloomberg) -- Want the lowdown on European markets? If that happened, one of the companys older hands might take the reinsfor examplePeter Freyberg, recently elevated to oversee the companys industrial operations, orTony Hayward, the former BP CEO who is currently Glencores non-executive chairman. Glasenberg was an athlete, and by his early 20s was national junior champion in race walking. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. This cookie is set by Segment.io to check the number of ew and returning visitors to the website. (business & personal). Under Mr Glasenberg, Glencore became the world's most powerful commodity trader, with an appetite for risk unrivalled in the industry. He became a Swiss citizen in 2011. Alex Beard, an Oxford-educated former BP . The cookies stores a unique ID for the purpose of the determining what adverts the users have seen if you have visited any of the advertisers website. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. This cookie is used for advertising purposes. In his later years, his company transformed into Glencore ( OTCPK:GLNCY) run today by Ivan Glasenberg, a South African protegee of Rich, who is today preparing to hand the company over to a new. Location London, England, United Kingdom Work This cookie tracks the advertisement report which helps us to improve the marketing activity. Colin Glasenberg, who joined Glencore's energy business in 2011, is now part of senior management and oversees oil fields in Chad and Equatorial Guinea. personalising content and ads, providing social media features and to [2] He is also on the board of mining company Minara Resources Ltd. Glasenberg was born 7 January 1957 in South Africa to a Jewish family. . This cookie is used to collect information on user preference and interactioin with the website campaign content. The data collected is used for analysis. This cookie is set by linkedIn. The Board comprises of eight directors, including seven non-executive, a majority of whom are independent non-executive directors. Glencore hasnt made a public statement on the promotion, but did update the corporate website in October or November to add Colin Glasenbergs name under executives running industrial assets, according to older versions of the website captured by the nonprofit Internet Archives Wayback Machine. The cookie is used to store information of how visitors use a website and helps in creating an analytics report of how the website is doing. In 2005, BusinessWeek referred to Glasenberg as a key figure in the secretive commodities trading of Marc Rich's company Mark Rich & Co. This cookie is set by GDPR Cookie Consent plugin. The cookie is set by CloudFlare service to store a unique ID to identify a returning users device which then is used for targeted advertising. For cost savings, you can change your plan at any time online in the Settings & Account section. Glencore, which was founded in 1974 and is headquartered in Baar, Switzerland, is the largest mining company in the world. The cookie is set by Krux Digital under the domain krxd.net. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. He became a Swiss citizen in 2011. Colleagues say hes calmer and a less dominating personality than his predecessor and fellow Greek national, Telis Mistakidis. 11% of employees are Black or African American. Glencore Leadership: Executives and Demographics - Zippia Ivan Glasenberg - Wikipedia Glencore appoints CEO Glasenberg's newphew to run oil assets The cookies store information anonymously and assign a randomly generated number to identify unique visitors. The cookie is used to support Cloudflare Bot Management. offers FT membership to read for free. For all the years of corrupt dealing, he was in charge of the company. The purpose of the cookie is currently not identified. This cookie is used by the website's WordPress theme. Together, we have created one of the worlds largest diversified miners and marketers of commodities. Ivan Glasenberg, born in South Africa and a Wits graduate became CEO of Glencore in 2002 and remained in that position until June last year. Also like Glasenberg, he built his career by rising through the ranks of Glencores coal department. This cookie is set by LinkedIn and used for routing. The IPO in 2011 provided the catalyst to re-unite Glencore with Xstrata, the mining business that Glencore had founded and financed. The money enabled the residents to cut their taxation rate by 7%, which was approved by large majority after a public vote, and attracted criticism from some villagers about Glencore's alleged controversial business practices. Used to track the information of the embedded YouTube videos on a website. He also spent time in the coal department, working for Glencores South African unit Shanduka from 2007 to 2009. The cookie stores a unique ID to identify a returning user for the purpose of targeted advertising. Search over 700 [10] In April 2012 it was reported that Glasenberg held more than 15 per cent of Glencore's stock, placing him as the 20th richest mining billionaire, with Forbes estimating his net worth at US$7.3billion. Glasenberg's departure will mark a shift to a new, younger leadership for the business, which, along with other mining companies, has faced increasing . Glencore. Gary started with me in the coal division 21 years ago.. Working for Glencore. The Baar, Switzerland-based company began trading in London in 2011 and acquired . The Glencore executive team is 17% female and 83% male. [17], Glasenberg has served an executive director of Xstrata Plc (since 2002); and as a non-executive director of Minara Resources Ltd (since 2000); of Rusal Plc (since 2007); and Century Aluminum Co. (between 20102011). His work ethic and dedication to the company and its employees has inspired a loyalty that is rare in business. Glencore: life after Ivan Glasenberg - SWI swissinfo.ch The firm is the worlds largest commodity trader, dominating transactions in most industrial metals, including copper, zinc and aluminum. Sci-fi writer Ted Chiang: The machines we have now are not conscious, Why motorcycle gangs will end with a whimper, not a rev, Trump or not, US meltdown could be inevitable, The American luxury lifestyle brand storming the Cotswolds. This cookie is set by doubleclick.net. [11][19] Glasenberg paid 360 million SFr (240m) in taxes to Rschlikon following Glencore's flotation on the London Stock Exchange. It is used to create a profile of the user's interest and to show relevant ads on their site. Glencore's coal assets account for 5% of revenue and 10% of core earnings or EBITDA. View Colin Glasenberg's profile on LinkedIn, the world's largest professional community. We produce, source, process, refine, transport, store, finance and supply commodities needed by industries around the world. Not only has Ivan achieved this with Glencore, but his vision and drive have left a lasting impact on the industry as a whole., I am proud of the great company that we have built. cookies This cookie also helps to understand which sale has been generated by as a result of the advertisement served by third party. Stock image. Bloomberg News | April 7, 2023 | 8:37 am Agnico Eagle, through a Mexican subsidiary, will take a 50% stake in Minas de San Nicols for $580 million. This cookie helps to categorise the users interest and to create profiles in terms of resales of targeted marketing. Engineering News - Glencore appoints CEO Glasenberg's newphew to run Glasenberg said he would work closely over the next six months with Nagle, who started with him in the company's coal division 21 years ago. The cookies is used to store the user consent for the cookies in the category "Necessary". We use It dominates transactions in industrial metals including . The Men Who Would Be King of Glencore Move Into the Spo - Daily Maverick We like to think of our Maverick Insider membership as an honesty box. Glencore plc announces that Ivan Glasenberg will retire as CEO and as a member of the Glencore Board during the first half of 2021. Linkedin - Used to track visitors on multiple websites, in order to present relevant advertisement based on the visitor's preferences. (modern). Which gives our journalism a greater chance of broader impact on society. Gary Nagle outline biography Gary Nagle, 45, is currently Global Head of Glencores coal industrial business based in Sydney, Australia. These cookies track visitors across websites and collect information to provide customized ads. Ivan Glasenberg appointed his nephew as head of oil assets at Glencore Plc, the latest changing of the guard in the senior ranks of the worlds largest commodity trader. Main menu. Click here to see other benefits and to sign-up to our reader community supporting quality, independent journalism. This cookie is set by Youtube. In June, Glencore announced it would split the role of department chief in two, and name separate executives to run trading and assets. Consensus forecasts show Glencores earnings peaking in 2022, before falling by around 30% in 2023 and 2024. We have decided that over the next six months I will be working closely with Gary Nagle who will be taking over from me, Glasenberg said. Although Glencore is a giant in oil trading, its industrial assets in energy are small. Commenting on Mr Glasenberg, Tony Hayward, Chairman said: I have known Ivan for over 15 years, working closely with him as a Director for the last nine years. Then again, it was unthinkable that we would be without electricity as much as we are. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Nearly there! This is a Lijit Advertising Platform cookie. Key Points. This is an important cookie in making credit card transaction on the website. It is used integrate the sharing features of this social media. Glasenberg's departure will mark a shift to a new, younger leadership for the business, which, along with other mining companies, has faced increasing pressure from investors to cut carbon emissions. By then, Rich had long lost control of the company following a management buyout in 1993 that included Glasenberg. The employee data is based on information from people who have self-reported their past or current employments at Glencore. Colin has 3 jobs listed on their profile. This cookie is used by Cloudflare for load balancing. We believe that the majority of our readers want to see us survive turbulent financial times. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. Glasenberg, 62, in charge . A spokesman for Glencore declined to comment. Glencore Shifts Focus (OTCMKTS:GLNCY) | Seeking Alpha million verified professionals across 35 million companies. Glasenberg joined Glencore in 1984,[4] working in the coal department in South Africa[5] and Australia. The leading candidates for the CEO job are Gary Nagle, Kenny Ives and Nico Paraskevas, Bloomberg reported last year. Glasenberg kept the door open for a possible future spin-off of the company's coal assets under the next CEO. Transaction Status, Reset Our Leadership WHO WE ARE Our Leadership Our Board is responsible for: financial performance; strategic direction; major acquisitions and disposals; overall risk management; capital expenditure and operational budgeting; business planning. This cookie is used for promoting events and products by the webiste owners on CRM-campaign-platform. No women are in the running. For a full comparison of Standard and Premium Digital, click here. Colin Glasenberg, who joined Glencores energy business in 2011, is now part of senior management and oversees oil fields in Chad and Equatorial Guinea. Additional reporting by Julia Payne. Industrial lead. Colin Glasenberg Glencore Oil - CFO (E&P Assets) Email Available Alison Burke Accounts Receivable & Cash Allocations Manager Email Available Elise Anderson Executive Assistant to the Chief Operating Officer Email Available Michelle Lawson Financial Controller Email Available More Profiles Use Skrapp.io to find professional email addresses for free Ivan Glasenberg (born 7 January 1957) is a South African business executive and former chief executive officer of Glencore, one of the world's largest commodity trading and mining companies. Used by Google DoubleClick and stores information about how the user uses the website and any other advertisement before visiting the website. Its hard to imagine South Africa without journalism. Glencore was founded in 1974 by the controversial metals trader Marc Rich but, in 1983, he was indicted on charges described by the then US attorney for New York, Rudolph Giuliani, as the biggest tax evasion case in United States history. Glencore is a leading integrated commodities producer and marketer. Who is Colin Glasenberg? - Tonyajoy.com The purpose of the cookie is not known yet. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Try full digital access and see why over 1 million readers subscribe to the FT, Purchase a Trial subscription for $1 for 4 weeks, You will be billed $69 per month after the trial ends, Train crash in India kills more than 260 people, Saudi Arabias prickly prince of oil bristles as crude price slides, CIA chief made secret trip to China in bid to thaw relations, US defence chief warns China against risky behaviour in Indo-Pacific, Indonesia floats Ukraine peace plan, triggering sharp western criticism, Six Glazer siblings could retain Manchester United stakes under Ratcliffe offer, More than 400 Grail patients incorrectly told they may have cancer, AI ripe to shake up private banking, says Israeli entrepreneur, Airline orders point to resurgent post-pandemic travel demand, Everyone will get affected: Tesla jolts EV charging industry, Active management is a sham no wonder my returns are suspect, Handful of tech stocks drive diverging measures of S&P 500 performance, There needs to be a health warning: How crypto trading can lead to addiction, Inflation back at the top of the fear list for worrywart investors, Management 101: dont drain a reservoir to find your phone. Colin Glasenberg: Industry-Company Type: Public: Employees Who Are Women: 39%: Executives Who Are Women: 17%: Employees Who Are Minorities: 41%: Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. Colin Glasenberg - Glencore Oil - CFO (E&P Assets) - LinkedIn Colin Glasenberg Glencore Oil CFO (E&P Assets) Glencore PLC | LinkedIn. The group said it would focus on investing in metals that were vital for the transition to a lower carbon world such as cobalt, nickel and copper. While three candidates top the list, nothing is final, according to a person familiar with the matter who declined to be identified discussing a confidential issue. The appointment reflects a change in the management structure of the oil division. No credit card required. Glasenberg is a major shareholder and former chief executive of Glencore, the world's biggest commodities trader. Glasenberg also teased the prospect that Tesla could be a sensible suitor for Glencore, given the electric carmaker's market value of almost $650bn widely trumps the commodity group's $57bn value. We are confident that he has the right skill set and qualities to lead the Glencore of tomorrow.. The Anglo-Swiss multinational miner brought in . He has overseen a less aggressive trading strategy by Glencore in the LME copper market. [More about him below.] The most common ethnicity among Glencore executive officers is White. Its growth ranks worse than 88% of the companies in Metals & Mining industry. Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. The cookie is a session cookies and is deleted when all the browser windows are closed. This cookie is a browser ID cookie set by Linked share Buttons and ad tags. Sign up here. Glencore and its portfolio of future facing commodities is uniquely positioned to meet the needs of today and the demands of tomorrow. In your inbox before the open, every day. The men who would be king of Glencore move into the spotlight analyse how our Sites are used. UK Listing Rule 9.6.13 There are no matters to be disclosed in accordance with UK Listing Rule 9.6.13 in respect of Mr Nagle. He became head of the coal department in 1990, rising to take the top job at Glencore in 2002. What is the core business of Glencore? - eleanorrigby-movie.com Glencore has agreed to pay about $40m to settle bribery allegations in Brazil nearly $30m to the state-run Brazilian oil company Petrobras in compensation for defrauding the company, and about $10m to Brazilian authorities in civil penalties, according to prosecutors. Related links. university You choose the amount and you can cancel at any time. Most of the conduct that was censured occurred after Paraskevas left as CFO in November 2012. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". This ID is used to continue to identify users across different sessions and track their activities on the website. Expert insights, analysis and smart data help you cut through the noise to spot trends, Glencore boss Ivan Glasenberg is to step down next year and Gary Nagle, head of coal assets at the mining and trading group, will become the new CEO. It allows the online transaction without storing the credit card information.This service is provided by Stripe.com. [19], As of 2022 his net worth was US$9.1 billion.[20]. The cookie is used to store and identify a users' unique session ID for the purpose of managing user session on the website. The data collected including the number visitors, the source where they have come from, and the pages visted in an anonymous form. The fact that each department has promoted from within the Group is a credit to the work done to ensure there is strength in depth. Ives, Glencores head of nickel since 2012, is probably the candidate best known outside the companys headquarters in Baar, Switzerland. Everyone has the right to completely log off: what bosses think about the right to disconnect, Wellcome Leaps Regina Dugan: Odds are irrelevant, if what youre trying to do is important. This cookie is installed by Google Analytics. No credit card required. Glencore have 158,000 employees. Get contact details including emails and phone numbers [9], In September 2011, using his own dividends, Glasenberg started buying a larger share of Glencore, buying up to an additional US$54million of Glencore stock. The purpose of the cookie is to determine if the user's browser supports cookies. He joined Glencore in 1998, straight out of university, and for the first decade traded copper concentrates, spending a year in China. Editing by David Evans/Louise Heavens/Jane Merriman)

, Refining Glasenberg, 63, has been chief . Ivan Glasenberg holds the largest individual stake in Glencore, the world's biggest commodity trader. The cookie is used to collect information about the usage behavior for targeted advertising. In the Glencore mold, hes a sports enthusiast who captained his school soccer team and regularly leads morning or lunchtime runs. Over 10 million users come to us each month for the news. This cookie is set by the Bidswitch. Latest Sustainability reports. for the purpose of better understanding user preferences for targeted advertisments. He will receive his base salary and pension contributions to the date of his retirement. The miner remains the world's largest coal exporter. It also stores information about how the user uses the website for tracking and targeting. This cookie is set by GDPR Cookie Consent plugin. Simon Goodley. Nagle joined Glencore in 2000 as an asset manager in the coal department, going on to become chief executive of its Colombian coal operation, Prodeco, in December 2007. He said his goal during his 18-year tenure as CEO was to transform the group by shifting the main focus from its trading arm to build up its mining business. This cookie is set by CloudFlare. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. In addition to certain standard Google cookies, reCAPTCHA sets a necessary cookie (_GRECAPTCHA) when executed for the purpose of providing its risk analysis. The cookie is set by CasaleMedia. The main purpose of this cookie is targeting and advertising. Biography of Colin Glasenberg - The Official Board LONDON/JOHANNESBURG, Dec 4 (Reuters) - Glencore boss Ivan Glasenberg is to step down next year and Gary Nagle, head of coal assets at the mining and trading group, will become the new CEO. In another personnel change, Mike Westerman was named acting head of copper assets. [7] Rich was a billionaire commodities trader, who was charged with tax evasion and illegal deals with Iran, but later pardoned by US President Bill Clinton. Paraskevas also has taken a more direct role in the trading of cobalt, a byproduct of Glencores Congolese copper mines that rapidly became one of the groups highest-profile commodities. Our Board is responsible for: financial performance; strategic direction; major acquisitions and disposals; overall risk management; capital expenditure and operational budgeting; business planning.