Ivan Glasenberg celebrated Glencore’s return to profit in 2017 by jogging four miles around Hyde Park with a group of City analysts. After three decades at the trading and mining giant, perhaps he wanted to prove he could still keep up with the youngsters.
Four years on, Glasenberg, 63, is preparing to jog into retirement. Fellow South African Gary Nagle will take over as chief executive of the FTSE 100 group by summer.
Nagle, 46, inherits a company seeking to shift its focus from fossil fuels to green energy. Glencore wants to reduce its total emissions by 40 per cent by 2035, and reach net-zero by 2050.
There is a long way to go: Glencore mined 140 million tons of coal in 2019.
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