Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Commodity trader Trafigura plans to name Richard Holtum as its new chief executive as soon as next week, the Financial Times reported on Friday, citing people briefed about the matter.
Holtum, a former British military officer, has seen a rapid rise at Trafigura since he joined from Glencore in 2014. He currently runs Trafigura’s gas, power and renewables division.
A Trafigura spokesperson declined to comment on the appointment.
Reuters exclusively reported in April that CEO Jeremy Weir was priming Richard Holtum to take over when he step back into a chairman role.
(By Anushree Mukherjee; Editing by Louise Heavens)
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