GlencoreXstrata Plc has appointed three new directors to its
board, two with leadership backgrounds at major U.S. companies,
the company said June 12.
John Mack, former
chairman and current advisor to Morgan Stanley; and Peter
Grauer, executive chairman and former chief executive officer
of Bloomberg Inc., have been named as non-executive directors
by the Baer, Switzerland-based company. The board also
appointed Peter Coates, a current senior executive at
GlencoreXstrata, as executive director.
"Each of (the
appointed directors) has an excellent business track record and
extensive international experience, which we believe will prove
invaluable in continuing the strength of debate and challenge
which has typified the operation of the companys board
since (Glencores) IPO two years ago," interim chairman
Tony Hayward said in a statement.
The company is still
looking for a board chairman and will consult major external
shareholders throughout the search, it said.
been restructuring its board since the $33-billion merger of
Glencore International Plc and Xstrata Plc was finalized last
month after delays due to regulatory issues and required
approval from foreign governments, the latest of which was
amm.com, April 16).