Wanted chairman for Glencore Xstrata

Dog Detective

How long does it take a big FTSE 100 company to recruit a new chairman?

We assumed Glencore Xstrata was merely cutting itself some slack when it said the process might take a year. But, no, 10 months later Tony Hayward is still filling the post on an "interim" basis and a permanent chairman is only expected "by May".

Still, the gig ought to be attractive. Glencore's traders are proving they can increase profits whatever the weather, and top-line operating profits from the mines fell only 4% in 2013, not bad when commodity prices were generally lower. Somebody, surely, must fancy the chance to join Ivan Glasenberg, billionaire chief executive, in the boardroom in faraway Zug.

Powered by Guardian.co.ukThis article was written by Nils Pratley, for The Guardian on Tuesday 4th March 2014 20.52 Europe/London

guardian.co.uk © Guardian News and Media Limited 2010

 

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