Board Changes
Glencore plc
Baar, Switzerland
21 March 2024
Board Changes
Glencore plc today announces:
1. Retirement of Peter Coates
Peter Coates will not seek re-election at the AGM on 29 May 2024, and will retire from the Board on that date.
Commenting on Mr Coates's retirement, Kalidas Madhavpeddi, Chairman, stated:
"Peter's retirement marks the end of two long eras. First, it ends a career in mining that goes back more than half a century. Second, it completes a thirty-year association with Glencore, which started in 1994 when he was appointed to lead Glencore's then embryonic coal industrial business.
He joined the Board of Glencore plc on its IPO in 2011, aged 66, when many might be winding down. Far from it with Peter. He has chaired the HSEC Committee from the beginning and has consistently pushed for improvements in our operating standards, especially in Health and Safety, which has continued to this day. His combined experience of the industry and of our Group will be impossible to replicate. All of the Board joins me in wishing Peter a long and happy retirement."
2. Appointment of John Wallington
The appointment of John Wallington as an Independent Non-Executive Director of the Company is effective from 1 June 2024.
John Wallington has over 40 years' experience in the mining industry, overseeing operations in South Africa, Australia, Colombia and Canada. Mr Wallington spent most of his career at Anglo American plc covering 27 years, culminating in him holding the role as Global CEO Anglo Coal. Prior to this he was appointed as CEO Anglo Coal South Africa (2001-2004). After leaving Anglo American, Mr Wallington held positions as CEO of Coal of Africa, (2010-2013), Head of Energy at Sibanye (2016-2018) and CEO of Riversdale Resources in Canada (2020-2022). He has also had board positions as a non-executive director with Keaton Energy (2009); Buffalo Coal (2015) and Kwatani (2018-2020).
Mr Wallington holds a BSc in Mining Engineering from the University of the Witwatersrand. Further qualifications include Executive programmes with both the London and Harvard Business Schools. Mr Wallington is certified with the Institute of Corporate Directors through The ICD-Rotman Board Dynamics Program (University of Toronto).
Kalidas Madhavpeddi, Chairman, stated:
"The Directors are very pleased to welcome John Wallington to the Board. We believe it is crucial that we have several non-executive directors who know the industry well and who can appraise and challenge decision making from a technical as well as a commercial perspective. John has spent his entire career in the mining industry and we look forward to benefiting from his skills and experience."
This announcement is made in fulfilment of the Company's obligations under UK LRs 9.6.11 and 9.6.13 and there are no other matters requiring disclosure under these Rules.
For further information please contact:
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Investors |
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Martin Fewings |
t: +41 41 709 28 80 |
m: +41 79 737 56 42 |
martin.fewings@glencore.com |
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Media |
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Charles Watenphul |
t: +41 41 709 24 62 |
m: +41 79 904 33 20 |
charles.watenphul@glencore.com |
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Company Secretarial |
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John Burton |
t: +41 41 709 26 19 |
m: +41 79 944 54 34 |
John.burton@glencore.com |
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Nicola Leigh |
t: +41 41 709 27 55 |
m: +41 79 735 39 16 |
nicola.leigh@glencore.com |
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www.glencore.com
Glencore LEI: 2138002658CPO9NBH955
Notes for Editors
Glencore is one of the world's largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities that advance everyday life. Through a network of assets, customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute the commodities that support decarbonisation while meeting the energy needs of today.
With over 150,000 employees and contractors and a strong footprint in over 35 countries in both established and emerging regions for natural resources, our marketing and industrial activities are supported by a global network of more than 50 offices.
Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers and consumers of commodities.
Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative.
We will support the global effort to achieve the goals of the Paris Agreement through our efforts to decarbonise our own operational footprint. We believe that we should take a holistic approach and have considered our commitment through the lens of our global industrial emissions. Against a restated 2019 baseline, we are targeting to reduce our Scope 1, 2 and 3 industrial emissions by 15% by the end of 2026, 25% by the end of 2030, 50% by the end of 2035 and we have an ambition to achieve net zero industrial emissions by the end of 2050, subject to a supportive policy environment. For more information see our 2024-2026 Climate Action Transition Plan and the About our emissions calculation and reporting section in our 2023 Annual Report, available on our website at glencore.com/publications.
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Important Information
This document contains statements that are, or may be deemed to be, "forward-looking statements" which are prospective in nature. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from any future event, results, performance, achievements or other outcomes expressed or implied by such forward-looking statements. Except as required by law, Glencore is not under any obligation, and Glencore and its affiliates expressly disclaim any intention, obligation or undertaking, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For further information, including important factors that could impact these uncertainties see Glencore's latest Annual Report on the publication page of our website at glencore.com/publications.
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