By Ian Walker 

Glencore PLC said Friday that Chief Executive Ivan Glasenberg will retire in the first half of next year and be replaced by Gary Nagle.

The FTSE 100 Anglo-Swiss miner said Mr. Nagle is currently global head of Glencore's coal industrial business based in Sydney, Australia. He will relocate to Switzerland early next year and will work with Mr. Glasenberg to effect the transition.

Glencore said Mr. Glasenberg will receive his base salary and pension contributions to the date of his retirement. No severance payment or payment in lieu of notice will be made.


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(END) Dow Jones Newswires

December 04, 2020 09:29 ET (14:29 GMT)

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