Swiss commodities trader Glencore International Plc (GLEN.L, GLNCY.PK, GLCNF.PK) announced that Peter Coates would take on a full time executive role in the Combined Group, with effect from the closing of its merger with Anglo-Swiss miner Xstrata plc (XTA.L, XSRAY.PK, XSRAF.PK). Therefore, with effect from that date, Peter Coates would cease to be a non-executive director. Also, Peter would resign as Chairman of Santos Ltd.
Ivan Glasenberg, CEO, stated, "I am delighted that Peter has agreed to take on a full time role in the Combined Group. Peter has in-depth experience of the industry and will have an immensely valuable insight into Glencore Xstrata having previously worked in senior operational roles across both companies."
The company said further details of Peter's role and other matters regarding the Combined Group would be provided in due course and following the Xstrata merger completion.
For comments and feedback: editorial@rttnews.com