Bloomberg reported that Glencore Chief Executive Ivan Glasenberg has told investors he plans to retire from the commodities trader and miner in three to five years and that Glasenberg has started training three to four people to succeed him in the job, but did not disclose the shortlist of candidates,
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.
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.