20th Jul 2020 18:03
(Alliance News) - Glencore PLC's leading zinc executive is stepping down from the Swiss miner and commodity trader, the Financial Times reported Monday.
Daniel Mate will leave Glencore at the end of the month, handing responsibility for zinc and lead trading to Nikola Popovic, according to people with knowledge of the situation, the FT reported.Â
Following Mate's departure, only two of the divisional heads from the time of Glencore's London initial public offering in 2011 - Chief Executive Ivan Glasenberg and Tor Peterson, the head of coal trading - are still at the company.
The FT noted Mate is Glencore's fifth-largest shareholder, with a 3.4% stake worth more than USD1 billion.
Shares in Glencore closed down 0.3% in London on Monday at 183.34 pence each. In Johannesburg, the shares added 0.4% to ZAR38.61.
Only CEO Glasenberg has a larger personal holding, with a 9% stake worth about USD2.75 billion.
https://www.ft.com/content/64c25eae-802b-43c8-9f45-0d688815d324
By Paul McGowan; [email protected]
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