Post by Jack Farchy

The head of Glencore Plc’s huge coal-trading operation is leaving in the biggest shake-up of the company’s trading unit in years. The news comes after Glencore, an historic name in commodity trading that traces its history back to the industry’s godfather Marc Rich, disappointed investors with weak results for the first half of the year and is facing internal and external pressure to revive its moribund share price. Ruan van Schalkwyk, a longstanding executive who runs coal trading for Glencore, is retiring, according to a memo from Chief Executive Officer Gary Nagle, that was seen by Bloomberg News. Glencore is the world’s largest shipper of coal. At the same time, Jyothish George, currently head of copper and cobalt trading, will take on a wider role as head of metals, iron ore and coal trading, according to the memo. Several trading executives who currently report to Nagle will now report to him, including Peter Hill, the head of iron ore, and Robin Scheiner, head of alumina and aluminum. Alex Sanna, who runs oil, gas and power trading, will continue to report to Nagle. #glencore #commoditytrading