3rd Jun 2019 08:55
LONDON (Alliance News) - Commodities trading firm Glencore PLC on Monday reported the retirement of its oil unit boss Alex Beard.
Beard, who will retire as the head of its Oil Marketing division at June-end, will be replaced by Alex Sanna, a senior executive in the Oil Products division.
The company's Oil division generated USD326 million in revenue and adjusted earnings before interest, taxes, depreciation and amortisation of USD153 million in 2018. Total group annual revenue stood at USD219.75 billion and adjusted Ebitda at USD15.78 billion.
In May, the company said long-standing head of Agriculture unit Chris Mahoney will retire in September but will remain involved in the business as a non-executive director. Mahoney, who will step down after 17 years in the role, will be replaced by division insider and regional boss David Mattiske.
Glencore shares were trading 1.4% lower at 251.20 pence each on Monday morning. Shares in Johannesburg were down 0.5% at ZAR46.39.
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