New chair­man for Xs­trata

Townsville Bulletin - - Investor -

MIN­ING com­pany Xs­trata, which con­trols sig­nif­i­cant global min­ing as­sets in­clud­ing base metal and coal op­er­a­tions in Queens­land, is to have a new chair­man.

The com­pany an­nounced this week that Willy Strothotte will re­tire as chair­man and non-ex­ec­u­tive di­rec­tor on May 4 and that Sir John Bond will join Xs­trata’s board as a con­sul­tant im­me­di­ately and will be ap­pointed chair­man from that date, sub­ject to share­holder elec­tion.

Sir John is chair­man of Voda­fone Group and will step down from the po­si­tion on July 26.

Mr Strothotte has served as chair­man of the Xs­trata board since the com­pany’s ini­tial pub­lic of­fer­ing in 2002 and was chair­man of Xs­trata AG from 1994 to 2002. He is chair­man of met­als trader Glen­core In­ter­na­tional AG and is cur­rently a di­rec­tor of Cen­tury Alu­minium Cor­po­ra­tion, Mi­nara Re­sources Ltd and KKR Fi­nan­cial Hold­ings LLC.

Sir John Bond be­came chair­man of Voda­fone plc in 2006.

He is a non-ex­ec­u­tive di­rec­tor of AP Moller-Maersk, t he i nter­na­tional ship­ping and in­vest­ment com­pany, and Shui On Land Ltd, a Hong Kong quoted prop­erty de­vel­op­ment com­pany spe­cial­is­ing in China. He is a mem­ber of var­i­ous bod­ies in China: China De­vel­op­ment Fo­rum; China Bank­ing Reg­u­la­tory Com­mis­sion In­ter­na­tional Ad­vi­sory Board, and Ts­inghua School of Eco­nom­ics and Man­age­ment, Ts­inghua Univer­sity.

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