Tony Hayward Will Leave Glencore by 2022 After One More Term
This content was published on March 11, 2021 - 15:47
March 11, 2021 - 15:47
(Bloomberg) Glencore Plc, the world’s top commodities trader, said Tony Hayward will step down as chairman at the latest by next year’s annual general meeting, after overseeing the appointment of its first new CEO in 20 years.
Hayward’s departure as chairman had been expected, given he’s held a board role for more than nine years, a period longer than recommended under U.K. governance code. Yet the company said Thursday that the board supported him staying another year, to oversee the once-in-a-generation change in leadership at the company, as well as navigate multiple ongoing legal probes.