LONDON (dpa-AFX) - Glencore plc (GLCNF.PK, GLNCY.PK, GLEN.L) announced Monday the appointment of Kalidas Madhavpeddi as the new Chairman on July 30. Madhavpeddi succeeds Tony Hayward, who will retire as Chairman.
Hayward was appointed to the Board at the time of the company's IPO in May 2011 and appointed as Chairman in 2013.
The company noted that following consultation with its largest institutional shareholders, it was agreed that he would retire as Chairman within the year after its last AGM, following a second extension of his tenure beyond 9 years on the Board.
Madhavpeddi, with over 40 years of experience in the international mining industry, joined the Board of Glencore in February 2020. He was CEO of China Molybdenum International (China Moly) from 2008 to 2018. He started his career at Phelps Dodge, where he worked from 1980 to 2006.
He is currently a non-executive director of Novagold Resources Inc., Trilogy Metals Inc. and Dundee Precious Metals Inc.
Glencore last Wednesday announced that Gary Nagle will succeed Ivan Glasenberg as CEO and Director with effect from July 1.
Copyright RTT News/dpa-AFX
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