Glencore Xstrata appoints Hayward as permanent Chairman

8th May 2014 08:23

Tony Hayward has been appointed as permanent Chairman of Glencore Xstrata, having occupied the interim role since May 2013. The group said the decision followed an "extensive search process". "Over the last twelve months, Tony has provided exemplary leadership of the board and proved himself to be the outstanding candidate to take on the role permanently," Peter Grauer, Chairman of Glencore's Nomination Committee, said."We continue to look forward to harnessing his in depth knowledge of the resources industry and of listed company governance to underpin the mandate given to him as Chairman to lead the board in helping to deliver long term, sustainable returns for shareholders."It is thought Hayward is likely to step down from his current role as Chief Executive of Genel Energy within the next two years as a result of the permanent Glencore appointment.NR