Activist investor calls for removal of Glencore CEO
Bluebell said it was particularly dissatisfied with Glencore’s continued emphasis on coal instead of sustainability
Keystone / Urs Flueeler
Swiss commodities group Glencore is facing pressure from activist investor Bluebell Capital Partners. In a letter to Glencore Chairman Kalidas Madhavpeddi it is demanding the removal of CEO Gary Nagle.
This content was published on
1 minute
Keystone-SDA/ts
In the letter, Bluebell said it was appalled by the amateurish way in which certain initiatives were being pushed forward at the commodities group. The company was threatened with the destruction of shareholder value because of this, it said.
Bluebell is particularly dissatisfied with Glencore’s continued emphasis on coal instead of sustainability. In this respect, it said Nagle had also failed to recognise the declining support for the climate report and had also taken the wrong approach to the targeted takeover of Canadian mining company Teck.
More
More
Glencore’s coal conundrum that won’t go away
This content was published on
Could Glencore’s bid for another mining firm change its stance on coal?
In addition, the sale of the agricultural joint venture Viterra was carried out under completely unsatisfactory conditions, it added.
“After two years, we have simply lost confidence in Mr Nagle,” the letter concludes. It is time to look for a new CEO externally, Bluebell believed.
More
More
Commodity trading in Switzerland, explained
This content was published on
Our daily lives depend on it, yet commodity trading is an opaque business. Here’s how Switzerland came to play an important role in this industry.
Swiss political class divided over reform of EU asylum pact
This content was published on
As a result of the EU's Migration and Asylum Pact, Switzerland must adapt five laws linked to the Schengen/Dublin agreements.
AI can reduce the number of animals needed for research
This content was published on
Swiss researchers have developed a new, AI-supported method that analyses the behaviour of mice in the laboratory more efficiently.
Geneva Conventions conference on Middle East scheduled for March 2025
This content was published on
The conference on the Middle East of the 196 States party to the Geneva Conventions, organised by Switzerland, will take place in Geneva in March.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Swiss government wants more oversight of commodity trading sector
This content was published on
The government has commissioned a study into the country’s raw material traders amid more questions about sanctions' compliance.
Glencore shareholders demand more clarity on coal plans
This content was published on
Glencore investors are forcing greater disclosure on its coal production plans, as the company faces questions over its climate impact.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.