Former BP head is Glencore Xstrata’s new chairman

Image credit: wikimedia commons By: Martin Roell

Glencore Xstrata, one of the world’s largest global diversified natural resource companies, has named former BP boss Tony Hayward as permanent Chairman of the company.

Image credit: wikimedia commons By: Martin Roell
Image credit: wikimedia commons
By: Martin Roell

According to the media release by Glencore Xstrata, Dr Hayward has been Glencore Xstrata’s interim chairman since Sir John Bond was ousted by shareholders last year.

Dr Hayward is also Chief Executive of London-listed oil company Genel Energy, a partner and member of the European advisory Board of AEA Capital and Chairman of Compact GTL Limited.

Glencore’s Chief Executive, Ivan Glasenberg, is set to continue to run the Swiss-based company, with Hayward serving as Non-Executive Chairman.

“The Board is very pleased to announce the appointment of Tony as permanent Chairman, following an extensive search process. Over the last twelve months, Tony has provided exemplary leadership of the Board and proved himself to be the outstanding candidate to take on the role permanently. We continue to look forward to harnessing his in depth knowledge of the resources industry and of listed company governance to underpin the mandate given to him as Chairman to lead the Board in helping to deliver long term, sustainable returns for shareholders,” said Peter Grauer, Chairman of Glencore’s Nomination Committee.