Bond to leave Xstrata board after incentive plan rejected

Nov 21, 2012 | 12:24 PM | Janie Davies

Tags  Xstrata, Glencore International, Sir John Bond, merger, incentive plans, merger, Metal Bulletin, Janie Davies

LONDON — Xstrata Plc chairman Sir John Bond will step down from his role after shareholders approved the proposed merger of Xstrata and Glencore International Plc but rejected a £144-million ($229-million) incentive plan to retain key Xstrata staff.

The retention plan, which Bond sanctioned, was initially a precondition of the merger, but it met shareholder disapproval when it was unveiled. ....

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