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Glencore CEO to Retire

Gary Nagle will become CEO and join the board

Glencore logo

Glencore announces that Ivan Glasenberg will retire as CEO and as a member of the Glencore board during the first half of 2021.

Gary Nagle, 45, will then become the Glencore CEO and join the board. Nagle intends to relocate from Australia to Switzerland early next year and will work with Glasenberg to effect the transition.

“The board has worked with Ivan over the past two years to oversee a seamless transition to the next generation of leadership across Glencore’s business," says Tony Hayward, chairman. "The fact that each department has promoted from within the group is a credit to the work done to ensure there is strength in depth."

Nagle has held senior roles in coal and ferroalloys in Colombia, South Africa and Australia.

“I am proud of the great company that we have built," says Glasenberg. "Together, we have created one of the world’s largest diversified miners and marketers of commodities. Today, our diversified portfolio uniquely positions us to play an essential role in the global transition to a low-carbon economy. I have worked with Gary since he joined the company 20 years ago. I have always regarded it as a critical part of my job to develop the next generation of leadership at Glencore and I am proud of the strong leadership team that we developed from which we were able to select Gary.

"I am confident that his leadership, along with the support of the management team, will enable Glencore to take advantage of the opportunities that lie ahead and be a strong custodian for my shareholding in the company," he concludes.

About Glencore

Glencore, one of the world’s largest globally diversified natural resource companies, was founded in the 1970s as a trading company and has grown to become a major producer and marketer of commodities.

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