South African eyed for top Glencore job as Billionaire Boys exit

EDINBURGH — Ivan Glasenberg built Glencore into the world's most powerful commodity trader, helping his friends become billionaires along the way. With the heat being turned up by law enforcement agencies, graft-tainted Glencore is ready for a new boss. Glasenberg has said he is looking for a mini-me. The London-headquartered Financial Times points to South African Mark Nagle, new head of power coal, as a likely contender for the top Glencore job. A Lonmin annual report says Nagel, who joined that company's board in 2013 at the age of 39, has a commerce and accounting degree from the University of the Witwatersrand, and qualified as a Chartered Accountant in South Africa in 1999. He has held a variety of appointments within the Glencore group, including more than five years as CEO of Prodeco, Glencore's Colombian coal operation and CEO of Glencore's Alloys Division. – Jackie Cameron

By Thulasizwe Sithole

The impending retirement of Glencore's copper kingpin Telis Mistakidis marks the start of a generational shift at the top of the world's most powerful commodity trader, says the Financial Times. While some senior executives have left the Swiss-based group since its 2011 stock market flotation, none of the inner circle surrounding the company's workaholic boss Ivan Glasenberg have left — until now, it points out.

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