Daily Mail

Cop­per boss calls it quits

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The boss of Glen­core’s cop­per di­vi­sion is leav­ing af­ter more than two decades at the firm.

aris­totelis Mis­takidis has an­nounced plans to re­tire from the min­ing and com­modi­ties group amid a crack­down by watch­dogs on parts of the busi­ness he used to run.

The 56-year-old owns a £1.4bn stake in Glen­core and is a ma­jor player in global cop­per min­ing.

The US Depart­ment of Jus­tice is in­ves­ti­gat­ing Glen­core’s op­er­a­tions in the Demo­cratic repub­lic of Congo, Venezuela and Nige­ria.

Chief ex­ec­u­tive Ivan Glasen­berg, 61, said he hoped to give younger ex­ec­u­tives more se­nior roles in Glen­core.

he said: ‘he’s [Mis­takidis] de­cided to re­tire and pass the ba­ton on to the next gen­er­a­tion.’

Glasen­berg him­self is ex­pected to re­tire in four years and said he has drawn up a list of four can­di­dates who could pos­si­bly re­place him.

Shares rose 3.7pc, or 10.65p, to 300.8p.

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