(Reuters) - Glencore <GLEN.L> Chief Executive Ivan Glasenberg has told investors he plans to retire from the commodities trader and miner in three to five years, Bloomberg reported https://bloom.bg/2PhDioI on Monday. Glasenberg has started training three to four people to succeed him in the job, but did not disclose the shortlist of candidates, Bloomberg reported, citing people familiar with the matter. Glasenberg, who is also the company's second-largest shareholder with a 8.56-percent stake, according to Refinitiv Eikon data, said in recent investor meetings he would not sell his shares after retiring, Bloomberg added. Glasenberg joined Glencore in April 1984 and has held the top job at the company's Swiss HQ since 2002.
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Date: 22 Oct 18 Time: 15:37
Date: 22 Oct 18 Time: 10:52
Glencore CEO Ivan Glasenberg plans to retire in 3-5 years
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Date: 22 Oct 18 Time: 10:37
Glencore boss Ivan Glasenberg plans to retire in 3-5 years -Bloomberg
Glencore boss Ivan Glasenberg plans to retire in 3-5 years -Bloomberg. Oct (Shenzhen: 000069.SZ - news) 22 (Reuters) - Glencore Chief Executive Ivan Glasenberg has told investors he plans to retire in three to five years, Bloomberg reported https://bloom.bg/2PhDioI on Monday. He has started training three to four people to succeed him in the top job, Bloomberg reported, citing people familiar with the matter. Glasenberg, who grew up in South Africa during apartheid, has worked his way to the top over a quarter century.
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Date: 22 Oct 18 Time: 10:16
Glencore CEO Tells Investors He’ll Retire in 3 to 5 Years
Ivan Glasenberg, who built Glencore Plc into a dominant force in commodities trading and became the face of the industry, told investors he plans to retire in three to five years, according to people familiar with the matter. The comments put a timeline on the chief executive’s exit for the first time and force investors to consider what had long seemed unthinkable: a Glencore without Glasenberg. The brash, workaholic South African started his career at Glencore more than three decades ago, and has held the top job since 2002. But Glasenberg’s age and the announcement earlier this year of a U.S. investigation into Glencore’s dealings in the Democratic Republic of Congo have spurred questions on succession planning from investors and analysts. In recent investor meetings, Glasenberg didn’t disclose the shortlist of candidates, according to people with knowledge of the discussions. But he said that whoever takes over should be younger than the top executives who took the company public in 2011.
Friday, October 19
Date: 19 Oct 18 Time: 10:46
Is the Glencore share price a bargain or should I buy this FTSE 100 growth share?
Is the Glencore share price a bargain or should I buy this FTSE 100 growth share? The recent performance of the FTSE 100 has been disappointing, with the index falling by around 800 points since reaching an all-time high in May. Could the mining major now offer an appealing value investing opportunity? Or could a FTSE 100 growth share which released an update on Friday provide a stronger risk/reward ratio? With Glencore having improved its balance sheet in recent years and strengthened its business model through a focus on its core operations, it now seems to be in a stronger position to deliver robust growth in the long run. While it may prove to be an unpopular share among investors, especially if the FTSE 100 continues to be volatile, in the long run it could deliver a successful recovery. As such, now could be the right time to buy it.
Date: 19 Oct 18 Time: 09:58
Merafe Resources says output from joint venture with Glencore up 20%
Wednesday, October 17
Date: 17 Oct 18 Time: 13:20
Diana Shipping Inc. Announces Direct Continuation of Time Charter Contract for m/v Astarte With Glencore
Announces Direct Continuation of Time Charter Contract for m/v Astarte With Glencore. ATHENS, Greece, Oct. 17, 2018 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Glencore Agriculture B.V., Rotterdam, for one of its Kamsarmax dry bulk vessels, the m/v Astarte. Diana Shipping Inc.’s fleet currently consists of 50 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 22 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.8 million dwt with a weighted average age of 9.15 years. In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in our operating expenses, including bunker prices, drydocking and insurance costs, the market for our vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessel breakdowns and instances of off-hires and other factors.
Monday, October 15
Date: 15 Oct 18 Time: 09:39
Breaking: Jefferies International Keeps GBX 440.00 Price Target On Glencore PLC (LON:GLEN) Shares, Keeps Their Original "Buy" Rating
In an analyst note made public on 15 October, Glencore PLC (LON:GLEN) shares have had their “Buy” Rating restate by expert analysts at Jefferies International. Glencore PLC has GBX 550 highest and GBX 300 lowest target. On Wednesday, September 26 the stock rating was maintained by Citigroup with “Buy”. As per Wednesday, April 18, the company rating was maintained by HSBC. As per Wednesday, June 13, the company rating was maintained by RBC Capital Markets. The Metals and Minerals segment is involved in smelting, refining, mining, processing, and storing zinc, copper, lead, alumina, aluminum, ferroalloys, nickel, cobalt, and iron ore. Another recent and important Glencore Plc (LON:GLEN) news was published by Mining.com which published an article titled: “Glencore to double size of $1B share buyback program” on September 25, 2018.
Date: 15 Oct 18 Time: 08:38
Glencore to cut jobs at Australia's Hail Creek coal mine
Glencore to cut jobs at Australia's Hail Creek coal mine. Oct (Shenzhen: 000069.SZ - news) 15 (Reuters) - Glencore Plc (Frankfurt: 8GC.F - news) said it would cut about 30 percent of its workforce at its Hail Creek coal mine in Australia, following a review of its operations. The miner, which began operational management of Hail Creek from Aug. 1, said it would introduce a seven days on, seven days off roster system, meaning that employees at the mine would work 7 days and take the next 7 days off. Glencore is already the world's biggest exporter of thermal coal used for power stations, and the Hail Creek acquisition gave it a bigger stake in metallurgical coal used for steelmaking.
Wednesday, October 10
Date: 10 Oct 18 Time: 08:28
BRIEF-Glencore Says Martin Gilbert Resumes Position As Senior Independent Director
Key Stats & Ratios
|Quaterly Earnings Growth||13.30%|
|Quaterly Revenue Growth||8.20%|
|Revenue per share||14.98|