Ivan Glasenberg

 Ivan Glasenberg

Name: Ivan Glasenberg

Country: Switzerland, Australia, South Africa

Date of birth: 17.01.1957

Education: Bachelor’s in Commerce and,

Master’s in Business Administration.

Type of business: Mining Industry

Main achievements: The largest individual share-holder in the world’s large commodity trading company, Glencore. The Chief Executive Officer (CEO) at Glencore PLC. A member of the board of Minara Resources Ltd., another mining company.. As of 2020, Glasenberg’s net worth was assessed to be $4.3B, reflecting a prominent decrease in the former statistics.

Something interesting about Glasenberg

Apart from his success in the mining industry, Glasenberg is interested in athletics. In his 20s, he championed race walking’s national junior competition. He was an athletic youth. Moreover, Glasenberg takes care of his health and fitness by running and swimming daily. He was ranked number 5 in the 2015 Forbes list of Australia’s richest men.

Biography

Glasenberg was born in a Jewish family. His father worked as an importer and a luggage manufacturer, and his mother was from South Africa. He lived in a subur in Johannesburg. In 198, Glasenberg got married to Elana Beberley and has two children with her. Glasenberg got his degrees in commerce and accounting from the University of Witwatersrand in South Africa. In 1983, he acquired his MBA from University of Southern California. He also worked as a Chartered Accountant in a firm for five years.

He took over the combined Glencore Xstrata by replacing his friend, Mick Davis in 2013. It was one of the largest merged mining companies worth US$88 billion.At that time, the amount of his salary had not been revealed. As of 2017, he had a net worth of A$6.85 billion, according to Financial Review Rich List. Glencore was joined by Ivan Glasenberg in 1984, however; he took the office of its CEO in 2002. It is one of the most dominating industries of trading industrial metals like aluminum, zinc, and, copper etc., founded in 197 by Marc Rich. Glasenberg has performed an outstanding role in transforming the commodity trading business since the inception of Glencore. As a beginning of his journey, Glasenberg worked as a marketer in South Africa’s coal commodity department. He later served as Asian coal commodity division’s head in Australia. He also headed the Glencore offices based in Beijing and Hong Kong. Moreover, he also performed the duties of supervising Glencore’s coal marketing business in Asia and administrating the offices in Beijing and Hong Kong. In the year 1990, Glasenberg acquired the responsibilities of overlooking the industrial assets as well as marketing of Glencore. Twelve years later, he was appointed as the company’s CEO.

The impairment charges of African Copper Business and Chad Oil resulted in a decline in the net income of Glencore assessed in the first half of 2019. It attempted to review its operational strategy due to the eight incidents thatled to 11 fatalities. Considering the increasingly strong demand for high-energy coal, Glasenberg stated his expectations to yield greater volumes of coal in 2019. Furthermore, it was also told that Glencore was expecting a low yield of nickel, zinc, and copper in the same year when it saw a slight increase in the yield of cobalt. The commodity trader had maintained a low-profile in regards with shipping. In 2018, the agricultural units of Glencore joint an initiative to digitalize global transactions.

In the past year, Glasenberg revealed his possibility to be retired within the upcoming few years. He stated that Gary Nagle, Nico Paraskevas, and Kenny Ives are the three most probable successors for his post as CEO in Glencore. He expressed his desire for the succeeding CEO to be young and to resemble him. Furthermore, he disclosed that there were no women expected to take up the position.

Links on articles about Ivan Glasenberg:

https://www.forbes.com/profile/ivan-glasenberg/#3c818ffd3d63

https://www.irishtimes.com/business/energy-and-resources/glencore-s-ivan-glasenberg-tells-investors-to-prepare-for-changes-at-the-top-1.4103735

https://www.glencore.com/who-we-are/our-leadership

https://peoplepill.com/people/ivan-glasenberg/