John Bond to chair Xstrata
Tuesday 08 March 2011
Willy Strothotte, the long-standing chairman of Xstrata, is to step down from the miner's board in May, with Vodafone's Sir John Bond lined up to take his place, the Anglo-Swiss group said yesterday.
Mr Strothotte, who has chaired the miner since 1994, leading it through its listing nine years ago, also chairs Glencore, the Swiss commodities trader which owns about 35 per cent of Xstrata, and which is believed to be readying itself for an initial public offering.
Mr Strothotte's exit will create some distance between the miner and the trading giant, which some market watchers believe could follow up a listing with a bid for Xstrata. The mining group is understood to have begun the search for a replacement soon after Glencore's listing plans first came to light last year. A float could value the trading group at up to $60bn, according to some estimates.
Diving in at the deep end is no excuse for shirking the style stakes
- 2 Why I'm on the brink of burning my Israeli passport
- 4 War is war: Why I stand with Israel
- 5 Blackest is the new black: Scientists have developed a material so dark that you can't see it...
Ian Thorpe gay: Olympic swimmer comes out in Parkinson interview
Stephen Fry ‘criticises Operation Yewtree in dinner party rant’ calling for tougher laws to deter false sex abuse allegations
Israel-Gaza conflict: ‘Sderot cinema’ image shows Israelis with popcorn and chairs 'cheering as missiles strike Palestinian targets'
Israel-Gaza conflict: Israeli air strike destroys home for the disabled killing two women residents
Israel-Gaza conflict: Israeli PM says conflict may 'continue for a long time' as hundreds of Palestinians flee their homes
Sustained immigration has not harmed Britons' employment, say government advisers
War is war: Why I stand with Israel
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
Socialist Worker called to apologise over ‘vile’ article saying Eton schoolboy Horatio Chapple's death is ‘reason to save the polar bears’
Emergency data law: David Cameron plots to bring back snoopers’ charter
NUT strike: David Cameron announces crackdown on strike action ahead of mass industrial action
iJobs Money & Business
£70000 per annum: Harrington Starr: Information Security Manager (ISO 27001, A...
£75000 - £85000 per annum + ex bens: Deerfoot IT Resources Limited: Biztalk Te...
£60000 per annum: Harrington Starr: Trade Desk Specialist (FIX, Linux, Windows...
£35000 per annum: Harrington Starr: Service Desk Analyst (Windows, Active Dire...