One of the top lieutenants of Glencore boss Ivan Glasenberg is to depart the miner and commodity trader by the end of the year amid growing pressure from regulators over assets he once ran in the Democratic Republic of Congo.
The departure of billionaire copper executive Aristotelis Mistakidis, who has worked for Glencore for more than two decades, comes as part of a broader reshuffle at the top of the Switzerland-based trading house as it deals with the fallout of a US Department of Justice probe of its activities in the DRC, Venezuela and Nigeria.
Mr Mistakidis is one of Glencore’s biggest shareholders, with a stake worth £1.4bn, and one of the most powerful figures in global copper. He joined Glencore when it was known as Marc Rich & Co in 1993, moving to manage copper trading and mining after Mr Glasenberg became chief executive in 2002.