Glencore bids farewell to veteran board member Peter Coates, who will retire on 29 May 2024, marking the end of a renowned career spanning over half a century.
Coates joined Glencore in 1994 and the board in 2011. He leaves behind a legacy of industry expertise and an unwavering commitment to operational excellence.
The 74-year-old has been a non-executive director since January 2014. Prior to this, he served as an executive director from June to December 2013 and a non-executive director from April 2011 to May 2013.
Chairman Kalidas Madhavpeddi expressed gratitude for Coates’s contributions and wished him a fulfilling retirement.
“Coates’s retirement marks the end of two long eras. First, it ends a career in mining that goes back more than half a century. Second, it completes a thirty-year association with Glencore, which started in 1994 when he was appointed to lead Glencore’s then embryonic coal industrial business.
“He joined the Board of Glencore plc on its IPO in 2011, aged 66, when many might be winding down. Far from it with Coates. He has chaired the HSEC Committee from the beginning and has consistently pushed for improvements in our operating standards, especially in health and safety, which has continued to this day. His combined experience of the industry and of our group will be impossible to replicate. All the board members join me in wishing Peter a long and happy retirement.”
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Appointment of John Wallington
Glencore has appointed John Wallington, a seasoned mining expert with over 40 years of experience overseeing operations in South Africa, Australia, Colombia, and Canada, as an independent non-executive director, effective from June 1, 2024.
Wallington spent most of his career at Anglo American plc, covering 27 years, culminating in him holding the role of global CEO at Anglo Coal. Prior to this, he was appointed CEO of Anglo Coal South Africa in 2001.
Wallington, after leaving Anglo American, held various positions, including CEO of Coal of Africa, Head of Energy at Sibanye, and CEO of Riversdale Resources in Canada. He also held non-executive director positions with Keaton Energy, Buffalo Coal, and Kwatani.
Wallington holds a BSc in Mining Engineering from the University of the Witwatersrand. Further qualifications include executive programmes with both the London and Harvard Business Schools. Wallington is certified with the Institute of Corporate Directors through the ICD-Rotman Board Dynamics Program (University of Toronto).
Kalidas Madhavpeddi, Chairman, highlighted the importance of Wallington’s appointment:
“The directors are very pleased to welcome John Wallington to the board. We believe it is crucial that we have several non-executive directors who know the industry well and who can appraise and challenge decision-making from a technical as well as a commercial perspective. Wallington has spent his entire career in the mining industry, and we look forward to benefiting from his skills and experience.”
Read More: Glencore says goodbye to Coates, welcomes Wallington