Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Glencore CEO Ivan Glasenberg plans to retire in 3-5 years: Bloomberg

    Glencore CEO Ivan Glasenberg plans to retire in 3-5 years: Bloomberg

    October 23, 2018
    Share
    Facebook Twitter LinkedIn WhatsApp
    Glencore office

    23 October 2018, News Wires — Glencore Chief Executive Ivan Glasenberg has told investors he plans to retire from the commodities trader and miner in three to five years, Bloomberg reported on Monday.

    Glasenberg has started training three to four people to succeed him in the job, but did not disclose the shortlist of candidates, Bloomberg reported, citing people familiar with the matter.

    Glasenberg, who is also the company’s second-largest shareholder with a 8.56-percent stake, according to Refinitiv Eikon data, said in recent investor meetings he would not sell his shares after retiring, Bloomberg added.

    A spokesman for Glencore declined to comment on the report.

    Glasenberg joined Glencore in April 1984 and has held the top job at the company’s Swiss HQ since 2002. Growing up in South Africa during apartheid, he worked his way to the chief executive’s post over a quarter of a century.

    After earning an MBA at the University of Southern California in 1984, Glasenberg was hired as a coal trader in South Africa. His rise also included positions in Australia, Hong Kong and Beijing.

    The London-listed company posted record earnings for January-June — building on 2017 full-year results it said were the best yet — but also that higher costs and lower prices for cobalt and other byproducts ate into profits.

    Glencore’s share price has come under additional pressure from its exposure to Democratic Republic of Congo (DRC) and a U.S. Department of Justice (DoJ) investigation.

    • Reuters

    Related News

    TotalEnergies CEO defends company against East Africa abuse allegations

    Are OPEC’s forecasts driving crude oil into a new downtrend?

    Saudi Aramco seeks investors in Jafurah infrastructure assets, sources say

    E-book
    Resilience Exhibition

    Latest News

    TotalEnergies CEO defends company against East Africa abuse allegations

    May 24, 2025

    Firm invest N2 billion to scale up solar energy access in Nigeria

    May 24, 2025

    Russia and Bahrain in advanced talks over LNG supply deal, sources say

    May 24, 2025

    Are OPEC’s forecasts driving crude oil into a new downtrend?

    May 24, 2025

    Saudi Aramco seeks investors in Jafurah infrastructure assets, sources say

    May 24, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.