Glencore announces upcoming appointment of Gary Nagle to its Board of Directors as next CEO

– SWITZERLAND, Baar –  Glencore plc (LON: GLEN) today announced the appointment of Gary Nagle to its Board of Directors as CEO succeeding Ivan Glasenberg who will retire as CEO and as a member of the Board during the first half of 2021.

Mr Nagle intends to relocate from Australia to Switzerland early next year and will work with Mr Glasenberg to effect the transition.

“Gary Nagle has held senior roles in coal and ferroalloys in Colombia, South Africa and Australia. He has been on the Board’s radar for more than several years and was selected following a succession process overseen by the Board. We are confident that he has the right skill set and qualities to lead the Glencore of tomorrow.” said Board Chairman, Tony Hayward 

He added: “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. 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. I have known Ivan for over 15 years, working closely with him as a Director for the last nine years. What he has achieved is unique. His vision created two of the world’s largest mining companies – Glencore and Xstrata.”

“With the support of his partners, Ivan understood the importance of creating a long-term asset base to underpin Glencore’s leading marketing franchise. The IPO in 2011 provided the catalyst to re-unite Glencore with Xstrata, the mining business that Glencore had founded and financed.

Ivan Glasenberg said: “I am proud of the great company that we have built. 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 twenty 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.”

About Gary Nagle

Gary Nagle is currently Global Head of Glencore’s coal industrial business based in Sydney, Australia.

Gary joined Glencore in 2000 in Switzerland as part of the Coal business development team. He was heavily involved in seeding a portfolio of assets to Xstrata in 2002, in conjunction with its initial listing on the London Stock Exchange. Gary then worked for five years (2008-2013) in Colombia as CEO of Prodeco, Glencore’s Colombian coal operation. He then moved to South Africa to take on the role of Head of Glencore’s Alloys Assets (2013-2018).

Gary has commerce and accounting degrees from the University of the Witwatersrand and qualified as a Chartered Accountant in South Africa in 1999. He also served on the Board of Lonmin plc from 2013 – 2015 and has represented Glencore on the Minerals Councils of Australia and Colombia.

Gary Nagle said: “I am grateful for the trust placed in me by the Board and honoured to be appointed CEO at such an exciting time for Glencore. We will continue to deliver value to our shareholders while operating safely and responsibly.”

About Glencore

Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 responsibly-sourced commodities that advance everyday life. The Group’s operations comprise around 150 mining and metallurgical sites and oil production assets.

With a strong footprint in over 35 countries in both established and emerging regions for natural resources, Glencore’s industrial activities are supported by a global network of more than 30 marketing offices.

Glencore’s customers are industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore’s companies employ around 160,000 people, including contractors.

Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative.

For more information: https://www.glencore.com/

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