James Ashton: Shaken and stirred, Sir John Bond is ousted after digging himself into a hole at miner
Mr Bond, we've been expecting you. The ambush that greeted Sir John Bond in a small Swiss theatre was every bit as dramatic as the assaults his namesake superspy has faced over the years.
Yet while James can feel aggrieved when the baddies obstruct his pursuit of the girl, Sir John had it all coming to him.
Sure, he was due to serve only a few months more as the chairman of Glencore Xstrata, but the manner of his early exit is an embarrassment. At 71, this could be his last top role. The leonine HSBC banker, who has also chaired Vodafone, is going out with a whimper not a roar.
He should have known better than to fight for a ludicrous retention package as part of the merger for miners who had already excavated sacks of gold for themselves. Sir John and his recently departed Xstrata deputy chairman David Rough, once a corporate governance crusader at Legal & General, are guilty of spending too long fawning over the legend of miner Mick Davis and not enough considering what was best for those that owned the company. His blurred focus helped to turn a merger into a Glencore takeover.
That suited Glencore chief Ivan Glasenberg. He has been plotting the union of the two companies for years, soon after Xstrata was hewn from Glencore's unloved coal assets. But the exit of Sir John and his fellow directors removes the fig leaf of respectability from the board.
Mr Glasenberg isn't the luckiest when it comes to chairmen. But shareholders should hope someone can be found to step up and keep the leadership of this £45 billion commodities giant in check.
If he can spare the time, laid-back Tony Hayward, who is thoroughly enjoying himself at Genel Energy away from the glare of BP, might be just the ticket.
Geoffrey Macnab reviews American Hustle, also starring Christian Bale and Bradley Cooper
Michelle Nijhuis' daughter insists (s)he is, and she learnt a valuable lesson on gender in books
news Opponents claim it would stop performers such as Beyonce and Madonna appearing on TV
It takes a platoon of chefs, litres of brandy and rum, and almost 100kg of dried fruit
Jennifer Lawrence: 'It should be illegal to call someone fat on TV'
Iain Duncan Smith leaves Commons food banks debate early
Paul Walker death caused by speed alone
DNA from a 50,000 year old toe shows Neanderthals were highly inbred
Devyani Khobragade: India-US row escalates over arrest of diplomat in New York
- 1 America's 'virgin births'? One in 200 mothers 'became pregnant without having sex'
- 2 Sun will 'flip upside down' within weeks, says Nasa
- 3 Christmas comes early: Justin Bieber is 'retiring from music'
- 4 Iain Duncan Smith leaves Commons food banks debate early
- 5 Children evacuated from swimming pool after prosthetic leg mistaken for paedophile
- < Previous
- Next >
iJobs Money & Business
£500 - £650 per day: Harrington Starr: Harrington Starr is working with a Glob...
£27000 per annum: Harrington Starr: Junior Consultant (Excel, Financial Spread...
£500 - £600 per day: Harrington Starr: .NET Quantitative Developer - Contract ...
£55000 per annum: Harrington Starr: Technical Operations Analyst (UNIX, Linux,...