Glencore completed its takeover of Xstrata yesterday, 450 days after the commodities trading house and the mining company announced what was initially planned as a merger of equals.
Glencore’s senior executives have moved quickly to affirm their control of the new company, taking all but two of the 17 top positions in the company.
In a memorandum sent to employees and seen by the Financial Times, Ivan Glasenberg, chief executive, disclosed the new organisation chart. The heads of iron ore and coal mines are the only former Xstrata senior managers in the new executive committee.
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