Hayward in the running for Glencore board role
Monday 24 January 2011
Tony Hayward, the former chief executive of BP who was forced to step down in the wake of the devastating Gulf of Mexico oil spill, has emerged as a possible candidate for a board seat at Glencore, the world's biggest commodities trader.
Mr Hayward stepped down as CEO in October after attracting criticism for his gaffe-prone public appearances as the oil giant battled to plug the Deepwater Horizon leak in the summer.
His name emerged as Glencore readies itself for a possible listing in coming months.
The Swiss group's chief executive, Ivan Glasenberg, is believed to be considering options for new directors as Glencore looks to revamp its board ahead of the float.
Mr Hayward is believed to be one of several possible candidates from the commodities sector. Though discussions are believed to be at a preliminary stage, an appointment would mark a remarkably swift comeback for Mr Hayward, who was named to the board of TNK-BP, the oil giant's Russian joint venture, in September.
The privately held Glencore, which owns around 35 per cent of the FTSE 100-listed mining group Xstrata, is believed to be considering a listing in the first half of this year, with market watchers expecting confirmation when the commodities trader issues its annual results in March.
It is expected to end up as one of the biggest companies on the London Stock Exchange, potentially raising around £10bn via the initial public offering.
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