Business
The world’s biggest coal miner faces a ‘back to the future’ moment – Sydney Morning Herald
Ivan Glasenberg has long made it clear that the only real business of Glencore is to make money for shareholders. He has just created an awkward conundrum for his…
He also took it from a private-held partnership to a public listing through a merger with Xstrata, which it had sponsored and helped fund into a mining powerhouse. The merger created the sprawling hybrid of mining, agribusiness, logistics and marketing that Glencore is today.
In the process he out-manoeuvred Xstratas founding CEO, Mick Davis, to grab the CEO role of the merged group, a role that had previously been reserved for Davis.
For Glasenberg, and now Nagle if he is truly a “mini Ivan”, the…
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