Glencore Management

Management criteria checks 3/4

Glencore's CEO is Gary Nagle, appointed in Jul 2021, has a tenure of 3.33 years. total yearly compensation is $5.83M, comprised of 31.8% salary and 68.2% bonuses, including company stock and options. directly owns 0.016% of the company’s shares, worth ZAR174.28M. The average tenure of the management team and the board of directors is 5.8 years and 3.5 years respectively.

Key information

Gary Nagle

Chief executive officer

US$5.8m

Total compensation

CEO salary percentage	31.8%
CEO tenure	3.3yrs
CEO ownership	0.02%
Management average tenure	5.8yrs
Board average tenure	3.5yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Gary Nagle's remuneration changed compared to Glencore's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 30 2024	n/a	n/a	-US$521m
Mar 31 2024	n/a	n/a	US$2b
Dec 31 2023	US$6m	US$2m	US$4b
Sep 30 2023	n/a	n/a	US$7b
Jun 30 2023	n/a	n/a	US$10b
Mar 31 2023	n/a	n/a	US$14b
Dec 31 2022	US$6m	US$2m	US$17b
Sep 30 2022	n/a	n/a	US$17b
Jun 30 2022	n/a	n/a	US$16b
Mar 31 2022	n/a	n/a	US$10b
Dec 31 2021	US$4m	US$900k	US$5b

Compensation vs Market: Gary's total compensation ($USD5.83M) is above average for companies of similar size in the ZA market ($USD3.12M).

Compensation vs Earnings: Gary's compensation has been consistent with company performance over the past year.

CEO

Gary Nagle (49 yo)

3.3yrs

Tenure

US$5,833,000

Compensation

Gary Nagle was appointed as CEO on 1 July 2021. Gary joined Glencore in 2000 in Switzerland as part of the Coal business development team. He was heavily involved in seeding a portfolio of assets to Xstrat...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Gary Nagle	CEO & Director	3.3yrs	US$5.83m	0.016% ZAR 174.3m
Steven Kalmin	Chief Financial Officer	19.4yrs	US$400.89k	no data
Martin Fewings	Head of Investor Relations & Communications	no data	no data	no data
Shaun Teichner	General Counsel	5.4yrs	no data	no data
Derrick Crowley	Head of Human Resources	less than a year	no data	no data
Japie Fullard	Head of Ferroalloys Assets	5.9yrs	no data	no data
Jason Kluk	Head of Ferroalloys & Nickel Marketing	6.8yrs	no data	no data
Ruan Van Schalkwyk	Head of Coal Marketing	6.8yrs	no data	no data
Alex Sanna	Head of Oil Marketing	5.8yrs	no data	no data
Jyothish George	Head of Copper Marketing	no data	no data	no data
Robin Scheiner	Head of Alumina & Aluminium Marketing	no data	no data	no data
Peter Edward Hill	Head of Iron Ore Marketing	3.8yrs	no data	no data

5.8yrs

Average Tenure

49yo

Average Age

Experienced Management: GLN's management team is seasoned and experienced (5.8 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Gary Nagle	CEO & Director	3.3yrs	US$5.83m	0.016% ZAR 174.3m
Martin Gilbert	Independent Non-Executive Director	7.5yrs	US$278.00k	0.00056% ZAR 5.9m
Cynthia Blum Carroll	Independent Non-Executive Director	3.8yrs	US$268.00k	no data
Kalidas Madhavpeddi	Chairman	4.8yrs	US$1.15m	no data
David Wormsley	Independent Non-Executive Director	3.2yrs	US$221.00k	0.00016% ZAR 1.7m
Elizabeth Hewitt	Independent Non-Executive Director	2.3yrs	US$241.00k	0.000090% ZAR 953.5k
John Wallington	Independent Non-Executive Director	less than a year	no data	no data
Gill Marcus	Senior Independent Non-Executive Director	6.8yrs	US$308.00k	no data

3.5yrs

Average Tenure

68yo

Average Age

Experienced Board: GLN's board of directors are considered experienced (3.5 years average tenure).

Glencore Management

Management criteria checks 3/4

Key information

Recent management updates

Independent Non-Executive Director recently bought R2.3m worth of stock

Glencore plc Announces Board Changes

Glencore plc Announces Retirement of Patrice Merrin from the Board

Glencore plc, Annual General Meeting, May 26, 2023

Glencore plc Announces Board Position Changes

High number of new directors

Recent updates

Yancoal Reportedly Primed to Snap Up Anglo Coal Portfolio

Yancoal Could Target Kestrel If its Anglo Ambitions Fail to Fly

Glencore plc Announces Dividend Distribution, Payable on September 20, 2024

First half dividend of US$0.065 announced

Glencore May Seek M&A

Glencore plc Revises Production Guidance for the Year 2024

Glencore Reportedly Eyes Anglo Coal Assets

Independent Non-Executive Director recently bought R2.3m worth of stock

Glencore Reportedly Studying an Approach for Anglo American

Dividend of US$0.065 announced

Glencore plc Provides Production Guidance for the Year 2024

Upcoming dividend of US$0.065 per share

Glencore plc Announces Board Changes

New minor risk - Earnings quality

Tribeca Investment Partners Asks Glencore to Move Main Listing to Sydney

Now 21% overvalued

Final dividend of US$0.065 announced

Full year 2023 earnings released: EPS: US$0.34 (vs US$1.33 in FY 2022)

Glencore plc Provides Production Guidance for the Year 2024

Glencore plc to Report Fiscal Year 2023 Results on Feb 21, 2024

Now 21% undervalued

Glencore plc (LSE:GLEN) entered into a binding agreement to acquire 77% stake in Elk Valley Resources Ltd. from Teck Resources Limited (TSX:TECK.B) for $6.93 billion.

Glencore plc (LSE:GLEN) entered into a binding agreement to acquire 77% stake in Elk Valley Resources Ltd. from Teck Resources Limited (TSX:TECK.B) for $6.93 billion.

Glencore plc Revises Production Guidance for the Full Year 2023

JFE Steel Reportedly Eyes Stake in Teck Resources' Coal Business

Glencore plc Declares Additional Distribution for the Second Half of Financial Year Ended 31 December 2022, Payable on 22 September 2023

Upcoming dividend of US$0.22 per share at 8.0% yield

JSW Steel Reportedly May Pick Majority Stake in Teck Coal Unit

New minor risk - Profit margin trend

First half 2023 earnings released: EPS: US$0.36 (vs US$0.92 in 1H 2022)

Bunge Limited (NYSE:BG) entered into a definitive agreement to acquire Viterra B.V. from British Columbia Investment Management Corporation, Canada Pension Plan Investment Board and Glencore plc (LSE:GLEN) for $8.2 billion.

Bunge Limited (NYSE:BG) entered into a definitive agreement to acquire Viterra B.V. from British Columbia Investment Management Corporation, Canada Pension Plan Investment Board and Glencore plc (LSE:GLEN) for $8.2 billion.

Glencore Prepares Improved Offer for Teck Resources to Break Deadlock

Glencore plc Announces Retirement of Patrice Merrin from the Board

Upcoming dividend of US$0.22 per share at 7.6% yield

Full year 2022 earnings: EPS and revenues miss analyst expectations

Now 21% undervalued after recent price drop

Glencore Mulls Sale of Volcan Compania Minera Stake

Glencore plc Recommends Distribution of the Financial Year Ended 31 December 2022, Payable on June 1, 2023 and 22 September, 2023

Full year 2022 earnings released: EPS: US$1.33 (vs US$0.38 in FY 2021)

Glencore plc Provides Production Guidance for the Year 2023

Britishvolt in Talks to Sell Majority Stake

Glencore plc, Annual General Meeting, May 26, 2023

Glencore plc Announces Board Position Changes

High number of new directors

Glencore plc (LSE:GLEN) entered into an agreement to acquire Yauliyacu Mine from Wheaton Precious Metals Corp. (TSX:WPM) for $150 million.

Glencore plc Provides Production Guidance for the Year 2022

Upcoming dividend of US$0.13 per share

First half 2022 earnings released

High number of new directors

Glencore plc Appoints Liz Hewitt as Independent Non-Executive Director

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age