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Prices & Quotes - UK Markets - Glencore (GLEN)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 307.60p
Change Today:
6.35p
Market Cap:
4,486.72m
Sector:
Mining

Glencore chairman Tony Hayward to step down

By Sean Farrell

Date: Thursday 11 Mar 2021

LONDON (ShareCast) - (Sharecast News) - Glencore is looking for a new chairman after Tony Hayward said he would leave in 2022 after more than eight years in the job.
The FTSE 100 company revealed the decision in its annual report. Hayward's planned departure means Glencore will be changing its chairman and chief executive in the next year or so with veteran CEO Ivan Glasenberg leaving in June.

Hayward, BP's former chief executive, joined the miner and commodities trader's board in 2011 and became chairman in 2013.

He should have left already under UK corporate governance guidelines. Big shareholders extended his term to let him guide Glencore's management succession and the response to several investigations.

"We have consulted with a number of our leading shareholders regarding this issue and they support a second and final extension to my term as chairman, which the board will recommend to shareholders," Hayward said in the annual report. "I will step down at the latest by next year's AGM. A search for my successor is under way."

Glencore also revealed the pay deal for its next CEO, Gary Nagle, who has worked at the company since 2000. He will be paid a salary of $1.85m and could earn up to $10.4m a year if he hits targets.

Glasenberg is paid $1.5m a year but gets no bonus because, with a 9% stake in the company he built, most of his earnings have been in dividends.

The company's new team will have to decide how to respond to mounting pressure from investors over the environmental impact of coal assets. On Thursday HSBC bowed to investor pressure and agreed to phase out all financing of coal by 2040.





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Glencore Market Data

Currency UK Pounds
Price 307.60p
Change Today 6.35p
52 Week High 333.55p
52 Week Low 155.50p
Volume 27,226,144
Shares Issued 1,458.62m
Market Cap 4,486.72m

Performance Indicators

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What The Brokers Say

Strong Buy 13
Buy 1
Neutral 6
Sell 0
Strong Sell 0
Total 20
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Glencore Dividends

  Latest Previous
  Special Special
Ex-Div 02-Sep-21 22-Apr-21
Paid 21-Sep-21 21-May-21
Amount 6.00¢ 6.00¢

Trades for 22-Jun-2021

Time Volume / Share Price
16:35 9,335,795 @ 307.60p
16:30 2,000 @ 308.28p
16:29 2,087 @ 308.40p
16:29 2,538 @ 308.45p
16:29 1,250 @ 308.40p

Glencore Key Personnel

CEO Ivan Glasenberg