Glencore chief counts benefits of Xstrata deal

Posted on March 5, 2014 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

Ivan Glasnberg has found $2.4bn of integration synergies from Xstrata deal – with more to come

Glencore’s Ivan Glasenberg admitted that all but a handful of the senior managers whose pay demands almost derailed its merger with Xstrata have left the commodities giant in the year since he took over his FTSE rival.

Mr Glasenberg, chief executive of the merged Glencore Xstrata made the comments as he underlined the importance of the cost savings found since the integration.