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GLENCORE PLC - GLN: Board Changes

Release Date: 22/03/2024 08:00
Code(s): GLN     PDF:  
Wrap Text
GLN: Board Changes

Glencore plc
(Incorporated in Jersey under the Companies (Jersey) Law 1991)
(Registration number 107710)
JSE Share Code: GLN
LSE Share Code: GLEN
LEI: 2138002658CPO9NBH955

Baar, Switzerland
22 March 2024

                                       Board Changes

Glencore plc today announces:

1.   Retirement of Peter Coates
     Peter Coates will not seek re-election at the AGM on 29 May 2024, and will retire from the Board
     on that date.

     Commenting on Mr Coates's retirement, Kalidas Madhavpeddi, Chairman, stated:
     "Peter'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

     He joined the Board of Glencore plc on its IPO in 2011, aged 66, when many might be winding
     down. Far from it with Peter. 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 of the Board joins me in wishing Peter a long and
     happy retirement."

2. Appointment of John Wallington
     The appointment of John Wallington as an Independent Non-Executive Director of the
     Company is effective from 1 June 2024.

     John Wallington has over 40 years' experience in the mining industry, overseeing operations
     in South Africa, Australia, Colombia and Canada. Mr Wallington spent most of his career at
     Anglo American plc covering 27 years, culminating in him holding the role as Global CEO
     Anglo Coal. Prior to this he was appointed as CEO Anglo Coal South Africa (2001-2004). After
     leaving Anglo American, Mr Wallington held positions as CEO of Coal of Africa, (2010-2013),
     Head of Energy at Sibanye (2016-2018) and CEO of Riversdale Resources in Canada (2020-2022).
     He has also had board positions as a non-executive director with Keaton Energy (2009); Buffalo
     Coal (2015) and Kwatani (2018-2020).

     Mr 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. Mr Wallington is certified with the Institute of Corporate Directors through
     The ICD-Rotman Board Dynamics Program (University of Toronto).

     Kalidas Madhavpeddi, Chairman, stated:
     "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.
     John has spent his entire career in the mining industry and we look forward to benefiting from
     his skills and experience."

This announcement is made in fulfilment of the Company's obligations under UK LRs 9.6.11 and
9.6.13 and there are no other matters requiring disclosure under these Rules.

For further information please contact:
 Martin Fewings           t: +41 41 709 28 80    m: +41 79 737 56 42

 Charles Watenphul        t: +41 41 709 24 62    m: +41 79 904 33 20

 Company Secretarial
 John Burton              t: +41 41 709 26 19    m: +41 79 944 54 34
 Nicola Leigh             t: +41 41 709 27 55    m: +41 79 735 39 16

Glencore LEI: 2138002658CPO9NBH955

Notes for Editors

Glencore is one of the world's largest global diversified natural resource companies and a major producer
and marketer of more than 60 commodities that advance everyday life. Through a network of assets,
customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute
the commodities that support decarbonisation while meeting the energy needs of today.

With over 150,000 employees and contractors and a strong footprint in over 35 countries in both established
and emerging regions for natural resources, our marketing and industrial activities are supported by a
global network of more than 50 offices.
Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation,
battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers
and consumers of commodities.

Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the
International Council on Mining and Metals. We are an active participant in the Extractive Industries
Transparency Initiative.

We will support the global effort to achieve the goals of the Paris Agreement through our efforts to
decarbonise our own operational footprint. We believe that we should take a holistic approach and have                                                                                                                      Page 3

considered our commitment through the lens of our global industrial emissions. Against a restated 2019
baseline, we are targeting to reduce our Scope 1, 2 and 3 industrial emissions by 15% by the end of 2026, 25%
by the end of 2030, 50% by the end of 2035 and we have an ambition to achieve net zero industrial
emissions by the end of 2050, subject to a supportive policy environment. For more information see our
2024-2026 Climate Action Transition Plan and the About our emissions calculation and reporting section in
our 2023 Annual Report, available on our website at

Important Information
This document contains statements that are, or may be deemed to be, "forward-looking statements" which are
prospective in nature. By their nature, forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause actual results, performance or achievements to differ materially from any future event,
results, performance, achievements or other outcomes expressed or implied by such forward-looking statements. Except
as required by law, Glencore is not under any obligation, and Glencore and its affiliates expressly disclaim any intention,
obligation or undertaking, to update or revise any forward-looking statements, whether as a result of new information,
future events or otherwise. For further information, including important factors that could impact these uncertainties see
Glencore's latest Annual Report on the publication page of our website at

The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities. In this
document, "Glencore", "Glencore group" and "Group" are used for convenience only where references are made to
Glencore plc and its subsidiaries in general. These collective expressions are used for ease of reference only and do not
imply any other relationship between the companies. Likewise, the words "we", "us" and "our" are also used to refer
collectively to members of the Group or to those who work for them. These expressions are also used where no useful
purpose is served by identifying the particular company or companies.

Absa Corporate and Investment Bank, a division of Absa Bank Limited

Date: 22-03-2024 08:00:00
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