Investors of Glencore Xstrata ready to demand meetings over appointment of Tony Hayward, former boss of BP, as chairman
Tony Hayward’s appointment as chairman of Glencore Xstrata is causing controversy in the City, with some investors ready to demand meetings with top officials from the commodities conglomerate.
One institutional investor has sold off its entire holding in the business over concerns that Hayward the former boss of BP who was forced out of the oil multinational in the wake of the Deepwater Horizon disaster in the Gulf of Mexico four years ago is to take over as chairman of the company created through the controversial merger of Glencore and Xstrata.