Mining giant Glencore appoints new chairperson
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GLENCORE, the global metals and mining giant, has ushered in a new era in its leadership after appointing mining industry veteran Kalidas Madhavpeddi as its new chairperson.
Madhavpeddi’s appointment comes after Gary Nagle took the reins as the group’s new chief executive last week following South African billionaire Ivan Glasenberg’s retirement.
Glencore said yesterday that Madhavpeddi would succeed Tony Hayward at the end of the month. Hayward has served as chief executive since 2013 and has been a board member since May 2011, at the time of the company’s initial public offering.
Hayward said: “I am very pleased that the board has appointed Kalidas as my successor. His history of working in the resources industry and familiarity of operating across the globe provide excellent experience for this appointment. It has been an honour to have served as chairman, and I wish Kalidas and Glencore every success for the future.”
Madhavapeddi has more than 40 years of experience and was previously chief executive of China Molybdenum International for a decade.
Madhavpeddi said: “I am delighted to have been appointed chairman at such an exciting time for the business. As the world transitions to cleaner forms of energy and mobility, our portfolio of commodities will allow Glencore to play a key role in helping us achieve the goals of Paris and play a key role in the ongoing energy and mobility transition.”
Nagle said Madhavpeddi’s decades of experience across the resources sector would be invaluable to Glencore “as we focus on achieving our objectives of sustainable shareholder returns and attaining our ambition of net zero total emissions by 2050 while also focusing on the green energy transition”. | Dineo Faku