Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Global mining giant Glencore’s leadership team completed its transition process after Gary Nagle took over the company as its chief executive officer (CEO) on Jul 1.


The Swiss miner indicated in a brief statement that Ivan Glasenberg had stepped down as the CEO on Jun 30 following six months of transition. In December 2020, Glencore had announced that Glasenberg would retire this year and had named Nagle as his successor.


Like Glasenberg, Nagle is South African and was involved in Glencore’s coal business through most of his career with the miner. He was also involved in the Xstrata IPO on the London Stock Exchange, a company that Glasenberg had been instrumental in merging with Glencore in 2013.


Nagle was the head of Glencore’s global coal mining business and was based in Australia before taking over as CEO this week.


According to media reports, Nagle is taking over in a period when miners, especially coal mines, are being pressured to reduce the material’s impact on climate change. However, Glencore, which also produces copper, nickel, and cobalt, is in a stronger position since these metals will be needed increasingly in clean energy and electric vehicles.

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