The pinnacle of Glencore Plc’s oil and gasoline buying and selling workforce is planning to depart the corporate, changing into the most recent excessive profile departure from one of many world’s largest commodity merchants.
Alex Sanna, who has been on the firm for nearly 20 years, will go away on the finish of this 12 months after deciding to step down, in line with an inside memo seen by Bloomberg Information. He might be changed by Maxim Kolupaev, who at present leads LNG, gasoline and energy buying and selling.
Sanna’s departure is the most recent in a sequence of senior exits from Glencore’s buying and selling enterprise.
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Bloomberg reported final month that coal-trading head Ruan van Schalkwyk is retiring, days after reporting one of many worst performances from its energy- and coal-trading unit on report. Jason Kluk, Glencore’s head of nickel and ferroalloy buying and selling, left the corporate final November, whereas Sam Imfeld, a longstanding dealer in Glencore’s aluminum and alumina workforce, left for rival Vitol Group earlier this 12 months.
Whereas Glencore’s power desk had a bruising first half, its metals merchants notched up their greatest half-yearly efficiency on report.
A Glencore spokesman declined to remark. Reuters earlier reported Sanna’s departure.
Different senior merchants have additionally been focused by rivals. Bloomberg beforehand reported that head of iron ore buying and selling Peter Hill and Jyothish George, who was since promoted to move of metals, iron ore and coal buying and selling, each had job provides from Vitol final 12 months, earlier than deciding to remain at Glencore.
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