Glencore CEO Ivan Glasenberg's departure marks the end of an era for the embattled commodities giant

In July, Ivan Glasenberg is handing over control of Glencore to his hand-picked successor Gary Nagle, only the fourth chief executive in the commodities group's 50-year history. Here's the story of how Glencore became Switzerland's most controversial company — and why its new boss must change that.

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Commodities are the foundation of Glencore's business: Here, copper production in the casting wheel process in Altonore in Chile.

Commodities are the foundation of Glencore's business: Here, copper production in the casting wheel process in Altonore in Chile.

In faraway Mongolia, the head of state-owned coal producer Erdenes Tavan Tolgoi grimaces. In an interview conducted a good eight years ago, he seems reluctant to come clean. At one point, when the role of a certain Swiss-based raw materials trader is broached, a pained smile flits across his face: «Yes, Glencore knows my mine better than I do.» The commodity traders, based in the Swiss canton of Zug, have a reputation for absorbing every bit of information so that they can exploit shifts in supply and demand.

The raw materials group’s global network is as legendary as its secrecy, which has been celebrated for a long time. From the tranquil community of Baar, Glencore does business all over the world. It has offices and production facilities in 35 countries, and employs more than 145,000 people worldwide. The company mines copper, cobalt, zinc, nickel and coal and trades in petroleum, iron ore, and aluminum. For countries like Chad, Glencore is such an important lender that it is listed separately in documents from international organizations like the Monetary Fund.

Despite its size and importance to world markets, however, Glencore may be the least well-known company in Switzerland, precisely because many have a sketchy opinion of the commodities group. The company's long-standing communications policy also contributed to this. As recently as the early 2000s, the human resources manager was able to take on media relations as a sideline. Mostly she replied with: «No comment.» It was not until the firm’s IPO in 2011 that Glencore communicated more openly.

A few years ago, Glencore liked to project the image of itself as a high-end middleman: It purchased raw materials in one country and shipped them to another, closing the gap between producers and consumers. Its self-image has shifted: Now the Baar-based group sees itself as a mining group with a significant trading division. This sets the company apart from other mining giants.

However, Swiss public opinion remains divided. Generations of anti-globalization activists have cut their teeth on anti-Glencore protests. The high point so far was last year's referendum campaign on the corporate responsibility initiative, which was sometimes referred to as the «Glencore Law.»

A number of Zurich municipalities had caused a furor by deciding to forego or donate the tax revenues that the IPO of the commodities group had injected into their municipal coffers. The company, whose shares are listed on the London and Johannesburg stock exchanges, has not yet been included in the pantheon of respectable Swiss companies.

One reason for the criticism lies with the company’s origins: Glencore is the successor of Marc Rich + Co, which was founded in 1974 by the notorious Marc Rich. In July, Glencore is set to turn over a new leaf with Gary Nagle. The South African will become the company’s fourth chief executive, succeeding Rich, Willy Strothotte and Ivan Glasenberg.

Marc Rich: the founder and father

Marc rich left his mark on commodity trading..

Until the early 1970s, seven oil companies, all from the U.S. and Great Britain, dominated the global oil business. The petrostates sold their production to the Western companies at fixed prices, settled using long-term contracts. Oil was almost never traded on the open market. However, the power of the corporations diminished as several countries nationalized their oil industries. This created opportunities for independent operators.

Marc Rich, who was working at commodities firm Philipp Brothers at the time, wasn't the first to see the possibilities, but he was the one who took the most decisive action. He was a virtuoso when it came to playing the newly emerging petroleum market. One biography referred to him as the «King of Oil.»

But because Rich's bosses at Philipp Brothers were getting cold feet about the risks, the then-39-year-old decided to go into business for himself. Together with four other renegades, he founded Marc Rich + Co. in Zug in 1974. This marked the beginning of a new era in commodities trading. By the 1990s, Rich had become the industry's defining figure.

Born Marcell David Reich, he had fled Antwerp to the U.S. with his family as a child to escape the Nazis. At 19, he started at Philipp Brothers in New York, and quickly rose through the ranks. Rich was considered charming and engaging when it came to business. He was the archetype of the hard-working businessman, and was always on the move. One Glencore trader recalls that Rich was only interested in talking about business. He molded the culture of the company in his image.

Rich did what was necessary, which also meant he probably paid bribes to get access to raw materials. The practice was less frowned upon then than it is now. Such payments were tax deductible in Switzerland for a long time. Morality or politics were irrelevant. Rich traded with everyone, and created seemingly impossible connections: He supplied Iranian oil to Israel, linked Chile's Pinochet to Romania's Ceausescu, and did business with Franco’s fascist Spain, Marxist Angola, and the Soviet Union.

Rich came under fire from leftist circles primarily for supplying oil to South Africa, which at the time was under a UN embargo because of apartheid. From Switzerland's point of view, however, the transactions were legal because it wasn’t a member of the UN at the time. Rich also took on a powerful adversary: the United States. American authorities accused Rich of tax fraud and treason in 1983 for doing business with the enemy, Iran. Rich fled to Switzerland, where his company's headquarters were located. The FBI put him on an international wanted list.

But Rich was welcomed in Zug. Walther A. Hegglin, the mayor of the town of Zug at the time, is said to have coined the saying: «What's good for Marc Rich is good for Zug.» Rich's company was situated near the train station in the middle of the small town, in a glass complex known as the «Dallas Building» — named after the 1980s American television series.

«In Zug, commodity traders were a sacred cow,» says Jo Lang, who was one of the early Swiss critics of the commodity trading hub in the central Swiss canton. A former National Councillor for the Green Party, Lang’s political career is closely linked to his opposition to Rich. This was also the birth of a veritable industry of non-governmental organizations and aid agencies that keep a close eye on commodity traders.

The American authorities could do nothing to Rich in Switzerland, but in the early 1990s it became obvious that the trader had passed his prime, especially as he was unable to move freely. For some banks, the company raised red flags because of its problems with U.S. authorities. The German Willy Strothotte was already running the day-to-day business. He and other traders urged Rich to give up his majority stake in the company.

Rich refused, and forced Strothotte out in 1992. That resulted in an exodus of important traders. There are different stories when it comes to the immediate cause of the ejection. Strothotte had given a lecture on the company's business at the University of Zurich, which displeased Rich, who insisted on secrecy and was suspicious. Lang suspects a labor dispute at the Ravenswood aluminum plant in the U.S. drove a wedge between the two after Strothotte made a decision in negotiations with the unions without consulting Rich.

Rich became more and more isolated within the company. This period also included a failed deal in the zinc market that resulted in a loss of $172 million. The company's finances were strained. Rich brought Strothotte back and agreed to relinquish majority control and reduce his share over a period of time.

Strothotte succeeded in getting the Basel-based pharmaceutical group Hoffmann-La Roche on board as a silent investor, and in 1994 was thus able to pay off Rich in full. Marc Rich + Co. was renamed Glencore, which is a compound of the English words «global, energy, commodities, resources.» The traders moved into a new corporate headquarters in Baar with a gleaming white exterior. Rich himself found late satisfaction: On his last day in office, outgoing U.S. President Bill Clinton pardoned him.

Willy Strothotte, the chairman

The enthusiastic golfer willy strothotte was the driving force behind the management buyout..

«Willy was the right man at the right time,» says a Glencore trader who lived through the squabbles in the 1990s. Strothotte was less a detail-oriented boss than a chairman who kept his eye on the big picture and represented Glencore to the outside world. Several voices describe the affable German, who is said to have two English-speaking accents in his repertoire, as someone who didn't live just to work — contrary to the relentless work ethic the company was known for. Strothotte nevertheless had the unqualified respect of his traders.

The German executive, now 77, brought stability to the company after the management vacuum and infighting. Strothotte joined Marc Rich + Co. in 1978 and had worked his way up to No. 2 partly because of his diplomatic skills.

Glencore managers held fast to the virtues they had learned under Rich: long hours, total commitment, and secrecy. To this day, it is common to join the company at a young age, learn the trade from scratch and stay with the firm for a long time.

What changed with the management buyout, however, was the fact that the company was now no longer a one-man show. The company's shares were widely dispersed. Shares were distributed relatively quickly to some 350 traders, although Strothotte and another dozen traders retained a large proportion. Traders received a base salary, a bonus, and a share of the net profit, which was only paid out over a five-year period if someone left Glencore.

Nor were the «animal instincts» lost. A trader at the time says it was decision-making speed and its global network that set the company apart. Glencore people also went into war zones to make quick and easy handshake deals. Strothotte was like a conductor of a talented orchestra.

Distancing himself from Marc Rich worked wonders: Negative headlines about the company vanished. Because commodity prices were rather low in the late 1990s, and therefore caused little excitement, the industry was not particularly in the spotlight. Lang calls it a successful rebranding, but even he thinks that the critical voices became quieter in the Strothotte era. But in the early 2000s, Glencore and the industry as a whole returned to the public eye because of the «Oil for Food» scandal in connection with the UN aid program for Iraq.

In the book «The World for Sale,» the author reports that shortly after Rich's departure and the renaming of the company, American financial institutions started calling the CFO to offer their services. For trading companies, access to finance is one of the most important success factors. Strothotte also maintained his good connections to the capital markets, something Rich had lost by the end.

Strothotte also pursued a strategy of buying mines and production facilities, to secure access to raw materials that could be traded. The industry had changed: Market information could be accessed at the touch of a button. This made the traditional trading business more difficult.

Rich thought little of the new trends, even though the company built up a majority stake in the Zurich-listed company Südelektra on his watch. Through this vehicle, long-term funds could be raised without the trading company having to use its own capital.

The purchase of mines was primarily pushed by the then-head of coal at Glencore, a certain Ivan Glasenberg. Towards the end of the 1990s, he bought a portfolio of coal mining sites in South Africa and Australia; due to the low prices for the raw material, the mines were cheap. This brought another advantage: An increased ability to influence prices.

Strothotte and, increasingly, Glasenberg were the defining figures of the company at the time. So it was almost a foregone conclusion that Glasenberg would succeed Strothotte when the latter retired as chairman in 2002.

Ivan Glasenberg: the «excited terrier»

Ivan glasenberg embodies glencore culture..

Glasenberg often looks like he's on a tear. He's ambition incarnate. His tense body gives away the ambitious athlete he really is. In his younger years he was an excellent walker, today he is particularly fond of road bikes. The South African, who was naturalized in Switzerland, joined the company in 1984. While studying business administration, he once visited a commodity trader for a project, which started a lifelong fascination.

After working in South Africa, Australia and Asia, he came to Zug in 1990 to head up the coal trading department. He followed the arguments with Rich from the sidelines. For one trader at the time, however, it was already clear that Glasenberg was «going places.» He lacked the charm of Rich or Strothotte, but made up for it with his irrepressible will. This also includes his language: A «bullshit» escapes him more often in conversation than his more buttoned-up predecessors.

His ambition is also described in the industry with a twinkle in his eye. «You know,» the boss of a large commodities trader once said in conversation, «Ivan is always enthusiastic.» An Australian newspaper characterized him 20 years ago as an «excited terrier.»

In the early 2000s, Strothotte and Glasenberg had an urgent problem to solve: Glencore had until 2003 to buy back Roche's 15% stake in the company. Otherwise, the pharmaceutical company could sell its stake to the highest bidder. This put the private nature of Glencore at risk. Its traders would potentially have had to open their books to the outside world. Glasenberg found the solution, bundling the company’s coal mines into one company and floating it on the Australian stock market in 2001. Roche could be paid out with the proceeds. Only the attack on the World Trade Center in New York threw a wrench in the plans temporarily.

In the meantime, Südelektra had been renamed Xstrata and was headed by Mick Davis, an acquaintance of Glasenberg's from South Africa who had made a career in other mining companies. Davis proposed integrating the coal mines, into Xstrata and selling shares in London. Glasenberg reluctantly agreed. The money from Xstrata was used to pay off Roche. Xstrata was now the public company Glencore could use to acquire interests in production facilities.

However, the relationship became more complicated. The boom in China catapulted both commodity companies into new spheres. Xstrata, which had risen to become one of the largest mining groups in the world, was a listed company and could no longer be just a vehicle for its largest shareholder, Glencore. In some cases, the groups even competed with each other in the purchase of mines.

An initial attempt to merge the two companies and go public through the back door failed in 2007. Glasenberg and Davis could not agree on the valuation of Glencore, which as a private company had no stock market price. However, in order to be able to finance major acquisitions, Glencore had to be listed on the stock exchange. In addition, the company's finances were always at risk when a partner left Glencore and had to be paid off.

In 2011, Glasenberg steered the group onto the London Stock Exchange. At the time, it was London’s largest listing. Glencore entered the UK's benchmark FTSE-100 index and has been part of the investment universe of UK pension funds ever since. A by-product was seven new billionaires, including Glasenberg with the group’s largest stake. Glasenberg now had a company valuation and briskly set out to merge with Xstrata.

After tough negotiations, the management teams agreed that Davis would be group CEO and Glasenberg, the majority shareholder, would be his deputy. However, things turned out differently when a major Xstrata shareholder, Qatar, objected to the deal. Qatar eventually agreed to an improved version, but Glasenberg took over as chief executive. That same year, Glencore bought the grain trader Viterra for $6 billion. A little later, Glasenberg toyed in vain with the idea of a Rio Tinto merger, which would have added one of the world's largest mining groups to Glencore’s portfolio. There was no stopping him. Except: The share price hadn’t reached the level of the issue price.

And with the IPO came closer scrutiny from investors, the media and non-governmental organizations. Glencore had never been more transparent, and what the world saw was a money machine. This brought the entire commodity trading profession under increasing scrutiny. The stock exchange prospectus was more than 1,600 pages thick . It listed, as usual in such cases, the business model and risks in detail. At Glencore, the risks were a bit more colorful than at many other companies, ranging from nationalizations in Bolivia to elite feuds in Russia to political instability in the Democratic Republic of the Congo (DRC).

«Glasenberg loves risk,» says one trader who has known him since the 1990s. «He needs the thrill.» However, the company says that it is always keeping an eye on risks. Therefore, it decided to acquire mines in order to be less exposed to market fluctuations. They went public to strengthen their equity.

Glasenberg, at least, isn't shying away from opportunities that some others avoid. This is particularly true in the DRC. Glencore bought copper mines in the desperately poor country. It also mines cobalt there, which is needed for batteries in electric vehicles. The high investments and the large risks in the DRC seem to be paying off. But the country is also the reason for the dark clouds hanging over the company.

In 2018, the U.S. Department of Justice opened an investigation into the company in connection with allegations of corruption in Congo, Nigeria and Venezuela; other authorities in the United Kingdom and Switzerland followed. The company's stock price dove 13% after the announcement.

Glasenberg is Glencore, and Glencore is Glasenberg — this has been true for a long time. After around 20 years at the helm of the company, the 64-year-old, who owns just over 9% of the group, announced his retirement in December 2019. In his usual manner he said when asked what qualities the successor should have: «I want him to be like me.»

Gary Nagle: the new guy

Gary nagle made his name in the coal business..

The outward signs do indeed point to similarity: Like Glasenberg, Gary Nagle, who will lead the commodities group starting in July, grew up in South Africa, speaks quickly if less crudely, studied accounting at the University of the Witwatersrand, and made his career primarily in the group's coal business. No wonder the word «clone» comes up often. Nagle beat out two other internal candidates. An external pick was ruled out from the outset.

His accession to the throne also completes the generational change. The traders who grew up with Glasenberg, still knew Rich and amassed hefty shares in the IPO have all left. However, the former boss will continue to exert influence as a major shareholder. In this sense, Glencore is becoming a more «normal» company and is no longer owner-managed.

The whiff of tradition hangs heavy in the air, however. Glasenberg was the one who initially brought the young Nagle from South Africa to Switzerland. The 46-year-old, who plans to live in Zug with his family, has been with the company for more than 20 years, with stints in Colombia and South Africa. Nevertheless, the fact that the wiry South African is receiving a more generous pay package than Glasenberg, who as a shareholder was reticent on this point, shows times have changed. Not all shareholders are happy about it.

Whereas in other mining groups it is mainly engineers who do the thinking, it is different at Glencore: For each commodity, in addition to the head of the mining activity, there is also an equal chief trader. The company says that this culture must be maintained, otherwise Glencore will lose its bite. This is also reflected in the fact that sometimes production is dialed back in order to keep prices up, similar to a mini-OPEC; however, this is only possible if the company is a significant producer of the raw material.

Even though the corporate responsibility initiative was narrowly defeated, Nagle has a reputation problem to deal with in Switzerland. During the referendum campaign, the company's denial of accusations that Glencore was doing nothing to combat child labor by independent cooperatives in a mine in Bolivia by the NGO Public Eye caused outrage in Baar. Legal action against the initiative committee was unsuccessful.

The company is increasing its efforts to comply with ecological and social standards and criteria of good corporate governance. For example, Glencore appointed a head of sustainability for the first time about ten years ago, and publishes reports on human rights, the water situation, payments to government agencies, and sustainability in general — driven by demand from shareholders and financial institutions. The situation is improving, but the company has more work to do.

One of Nagle's biggest challenges is the investigation by U.S. authorities. Glencore is already trying to counter by promoting a culture of compliance and adherence to internal rules. The role of middlemen is being examined more closely. Whether there will be any fines and restrictions on the business model is still up in the air. But Glencore is also likely to throw its geopolitical weight around in Washington: The group is one of the largest producers of cobalt, which is needed for green technologies. The market is otherwise dominated by America’s arch-rival, China.

Another problem is coal, the commodity Nagle based his career on. Glencore has already announced that it would no longer invest in coal and would use up its reserves. This should enable the company to meet the Paris climate targets. However, investor pressure may make it necessary to spin off the coal business entirely.

There may be another similarity between Glasenberg and Nagle. Glasenberg got lucky with the China boom in the early 2000s. Nagle could also benefit from a prolonged period of rising commodity prices: The energy transition is increasing the demand for metals. With copper, cobalt, nickel and zinc, the group has raw materials in its portfolio that are used in electric vehicles and in batteries, and is thus better positioned than some of its competitors, who have focused mainly on iron ore, which is used for steel production.

Nagle is only Glencore's fourth chief executive, but he arguably has the most daunting task of all before him: making Glencore a «boring» company attractive to investors, accepted by civil society, and unbothered by the authorities.

In addition to interviews with participants, valuable sources were the Rich biography "King of Oil" by Daniel Ammann and the book on commodity traders "The World for Sale" by Javier Blas and Jack Farchy.

Follow NZZ Business Editor Gerald Hosp on Twitter .

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The four-decade story of Glencore's explosive rise and fall

It can't be a pleasant experience for secretive Glencore to be in the news so much.

It's also not that comfortable for people who don't have an expertise in mining and commodities trading companies.

The company's name doesn't give much away about what it does, and it's a relative newcomer to the public markets, listing on the London Stock Exchange in 2011. 

But it's important to understand what trouble at Glencore means because of the huge size of the company's debt pile, banks' exposure to it and its role in the world economy as a producer and trader of more than 90 commodities.

So here's an explainer of Glencore's mess is and how it got there.

The story starts with Belgian-born commodities billionaire Marc Rich, who, in 1974, circumvented the Arab oil embargo to buy oil from Iran and Iraq for $12 a barrel and sell it for a huge profit to US companies.

willy strothotte yacht

With the profits, Rich founds Marc + Co. AG in 1974. The company focuses on trading metals and oil.

willy strothotte yacht

In 1981, the company acquired a Dutch grain trading business, expanded into agricultural commodities and adds coal to its list of traded products.

willy strothotte yacht

In 1983, Marc Rich was indicted in the U.S. by then-U.S. prosecutor Rudolph Giuliani for multiple criminal activities including tax-evasion, racketeering and embargo breaches.

willy strothotte yacht

The charges could have come with a 300-year jail sentence, but Rich fled to Switzerland, protesting his innocence. He stayed on the FBI's most wanted list for many years. HIs companies pay $90 million in fines for breaches of the tax code.

willy strothotte yacht

In 1987, Glencore diversified away from pure commodities trading. It bought a 27% stake in a U.S. aluminium smelter. A year later, it bought a two-thirds stake in a Peruvian lead and zinc mine. The company became notable for its use of debt financing – a deliberate strategy adopted by Rich.

willy strothotte yacht

In 1993, Rich lost $172 million and control of his firm in a failed attempt to dominate the market for zinc. After a management buy-out, Marc Rich + Co AG was reborn as Glencore in 1994. Willy Strothotte became CEO.

willy strothotte yacht

In 2001, Marc Rich was controversially pardoned by Bill Clinton on his last day as US president. It later emerged that Denise Rich, Marc Rich's wife, made a $1 million donation to the Democrat party.

willy strothotte yacht

Glencore went public on the London and Hong Kong Stock Exchanges in 2011. Shares were priced at 530p each in a deal valuing the company at $60 billion. The prospectus provided to investors about the company was 1,637 pages long.

willy strothotte yacht

In 2013, Glencore completed its merger with mining company Xstrata. The deal, which took 450 days, created a company with 190,000 employees in 50 countries and more ships than the British navy. Glencore CEO Ivan Glasenberg took the helm of the new firm.

willy strothotte yacht

Marc Rich died in the same year.

willy strothotte yacht

Earlier this year, commodity prices hit record lows as demand from China and other emerging market economies crawled to a halt. Shares in Glencore plunged 10% to 159p on August 19 after disappointing financial results and concerns about the company's massive debt pile.

willy strothotte yacht

On September 7, Glencore tried to reassure investors with a plan to slash its $30 billion net debt by $10 billion by the end of next year. Glasenberg personally took a large stake in new shares being issued.

willy strothotte yacht

It didn't work and concerns intensify. Pure panic sets in on September 28 and shares collapsed by more than 28% in a day, to less than 70p, after analysts pointed out that all the shares could be wiped out to pay back the company's debt.

willy strothotte yacht

A day later, the shares staged a major comeback after the company asserted that it is "operationally and financially robust."

willy strothotte yacht

After rumours that Glencore is open to takeover offers, the stock surged another 7% on October 5, with shares up as much as an insane 70% in Hong Kong trading. The market volatility shows that no-one is quite sure what the company is worth.

willy strothotte yacht

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The four-decade story of Glencore's explosive rise and fall

The story starts with belgian-born commodities billionaire marc rich, who, in 1974, circumvented the arab oil embargo to buy oil from iran and iraq for $12 a barrel and sell it for a huge profit to us companies..

The four-decade story of Glencore's explosive rise and fall

With the profits, Rich founds Marc + Co. AG in 1974. The company focuses on trading metals and oil.

With the profits, Rich founds Marc + Co. AG in 1974. The company focuses on trading metals and oil.

In 1981, the company acquired a Dutch grain trading business, expanded into agricultural commodities and adds coal to its list of traded products.

In 1981, the company acquired a Dutch grain trading business, expanded into agricultural commodities and adds coal to its list of traded products.

In 1983, Marc Rich was indicted in the U.S. by then-U.S. prosecutor Rudolph Giuliani for multiple criminal activities including tax-evasion, racketeering and embargo breaches.

In 1983, Marc Rich was indicted in the U.S. by then-U.S. prosecutor Rudolph Giuliani for multiple criminal activities including tax-evasion, racketeering and embargo breaches.

The charges could have come with a 300-year jail sentence, but Rich fled to Switzerland, protesting his innocence. He stayed on the FBI's most wanted list for many years. HIs companies pay $90 million in fines for breaches of the tax code.

The charges could have come with a 300-year jail sentence, but Rich fled to Switzerland, protesting his innocence. He stayed on the FBI

In 1987, Glencore diversified away from pure commodities trading. It bought a 27% stake in a U.S. aluminium smelter. A year later, it bought a two-thirds stake in a Peruvian lead and zinc mine. The company became notable for its use of debt financing – a deliberate strategy adopted by Rich.

In 1987, Glencore diversified away from pure commodities trading. It bought a 27% stake in a U.S. aluminium smelter. A year later, it bought a two-thirds stake in a Peruvian lead and zinc mine. The company became notable for its use of debt financing – a  deliberate strategy adopted by Rich.

In 1993, Rich lost $172 million and control of his firm in a failed attempt to dominate the market for zinc. After a management buy-out, Marc Rich + Co AG was reborn as Glencore in 1994. Willy Strothotte became CEO.

In 1993, Rich lost $172 million and control of his firm in a failed attempt to dominate the market for zinc. After a management buy-out, Marc Rich + Co AG was reborn as Glencore in 1994. Willy Strothotte became CEO.

In 2001, Marc Rich was controversially pardoned by Bill Clinton on his last day as US president. It later emerged that Denise Rich, Marc Rich's wife, made a $1 million donation to the Democrat party.

In 2001, Marc Rich was controversially pardoned by Bill Clinton on his last day as US president. It later emerged that Denise Rich, Marc Rich

Glencore went public on the London and Hong Kong Stock Exchanges in 2011. Shares were priced at 530p each in a deal valuing the company at $60 billion. The prospectus provided to investors about the company was 1,637 pages long.

Glencore went public on the London and Hong Kong Stock Exchanges in 2011. Shares were priced at 530p each in a deal valuing the company at $60 billion. The prospectus provided to investors about the company was 1,637 pages long.

In 2013, Glencore completed its merger with mining company Xstrata. The deal, which took 450 days, created a company with 190,000 employees in 50 countries and more ships than the British navy. Glencore CEO Ivan Glasenberg took the helm of the new firm.

In 2013, Glencore completed its merger with mining company Xstrata. The deal, which took 450 days, created a company with 190,000 employees in 50 countries and more ships than the British navy. Glencore CEO Ivan Glasenberg took the helm of the new firm.

Marc Rich died in the same year.

Marc Rich died in the same year.

Earlier this year, commodity prices hit record lows as demand from China and other emerging market economies crawled to a halt. Shares in Glencore plunged 10% to 159p on August 19 after disappointing financial results and concerns about the company's massive debt pile.

Earlier this year, commodity prices hit record lows as demand from China and other emerging market economies crawled to a halt. Shares in Glencore plunged 10% to 159p on August 19 after disappointing financial results and concerns about the company

On September 7, Glencore tried to reassure investors with a plan to slash its $30 billion net debt by $10 billion by the end of next year. Glasenberg personally took a large stake in new shares being issued.

On September 7, Glencore tried to reassure investors with a plan to slash its $30 billion net debt by $10 billion by the end of next year. Glasenberg personally took a large stake in new shares being issued.

It didn't work and concerns intensify. Pure panic sets in on September 28 and shares collapsed by more than 28% in a day, to less than 70p, after analysts pointed out that all the shares could be wiped out to pay back the company's debt.

It didn

A day later, the shares staged a major comeback after the company asserted that it is "operationally and financially robust."

A day later, the shares staged a major comeback after the company asserted that it is

After rumours that Glencore is open to takeover offers, the stock surged another 7% on October 5, with shares up as much as an insane 70% in Hong Kong trading. The market volatility shows that no-one is quite sure what the company is worth.

After rumours that Glencore is open to takeover offers, the stock surged another 7% on October 5, with shares up as much as an insane 70% in Hong Kong trading. The market volatility shows that no-one is quite sure what the company is worth.

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Xstrata awaits Glencore overtures

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Xstrata to shake up board

By: KCS-content

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WILLY Strothotte, the chairman of Glencore and FTSE 100-listed miner Xstrata, is due to leave his post at Xstrata in the coming year as part of a board-room changeover.

Strothotte has been at the helm of Xstrata since it floated in London in 2002, and several other non-executive directors have been on the board for eight to nine years.

The company has started to look for replacements for Strothotte and several other directors, ahead of a possible Glencore flotation next year. Glencore, which owns a 34 per cent stake in Xstrata, shares several board members including Strothotte and Glencore chief executive Ivan Glasenberg, who is a non-executive on the Xstrata board.

A source close to the firm told City A.M. that the changes are “part of a general look at whether the board needs refreshing.”

Xstrata declined to comment.

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Willy R. Strothotte

willy strothotte yacht

Mr. Strothotte was Chairman and CEO of Glencore International AG, the world’s largest integrated mining company and commodities trader. Prior to Glencore, from 1961 to 1978 Mr. Strothotte held various positions with responsibility for international trading in metals and minerals in Germany, Belgium and the USA. In 1978, Mr. Strothotte joined Glencore International, taking up the position of Head of Metals and Minerals in 1984. Mr. Strothotte was appointed Chief Executive Officer of Glencore in 1993 and held the combined positions of Chairman and Chief Executive Officer from 1994 until 2001, when the roles of Chairman and Chief Executive were split. Mr. Strothotte was Chairman of Xstrata AG from 1994, and Chairman of Xstrata plc starting in 2002 as well as director of Century Aluminum Corporation, Glencore International AG and Minara Resources Limited. Outside of the commodities industry, Mr. Strothotte served on the Board of KKR Financial Holdings LLC from 2014. Among many qualifications, Mr. Strothotte brings to our Board extensive experience in business strategy, management and energy and commodities as the leader of one of the world’s most successful international businesses.

Willie R. Strothotte

. can by .
  • 1 Biographical Information
  • 2.1 Related Sourcewatch
  • 2.2 References

Biographical Information

"Willie R. Strothotte, Willy serves as a Director-General of Glencore International AG, Glencore Finance AG and Glencore Investment AG. Mr. Strothotte served as the Chief Executive Officer of Glencore International AG from 1993 to 2001. He joined Glencore International AG in 1978 and served as its Head of Metals and Minerals since 1984. He worked with Frank & Schulte in Germany, C. Tennant Sons & Co in New York and ICC Metals in Brussels. From 1961 to 1978, he held various positions with the responsibility for International Trading in Metals and Minerals in Germany, Belgium and the USA. Mr. Strothotte has over 38 years experience in the natural resources industry. He has been the Chairman of Xstrata PLC (formerly Xstrata AG and Sudelektra Holding AG) since 1994. He serves as the Chairman of Glencore Finance AG, Glencore Investment AG, Xstrata South Africa (Proprietary) Limited and Xstrata Alloys. He has been the Chairman of Glencore International AG since 1994. He serves as Vice Chairman of Asturiana De Zinc SA. Mr. Strothotte served as Vice Chairman of the Supervisory Board at Recylex SA (formerly Metaleurop S.A.). He has been a Director of KKR Financial Holdings LLC since January 17, 2007. He has been a Non-Executive Director of Xstrata PLC since February 25, 2002 and Minara Resources Ltd. (formerly known as Anaconda Nickel Ltd.) since December 8, 2000. He has been a Director of Century Aluminum Co. since 1996. Mr. Strothotte serves as a Director of Century Aluminium Corporation, USA." [1]

Resources and articles

Related sourcewatch.

  • ↑ Willie R. Strothotte , businessweek.com, accessed February 20, 2011.

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  • Willy R. Strothotte

Director/Board Member at MINARA RESOURCES PTY LTD

Willy R. Strothotte is currently a Non-Executive Director at Minara Resources Pty Ltd. and a Vice President at Asturiana de Zinc SA. Previously, he held Chairman positions at Glencore International AG, Xstrata Plc, Glencore AG, Glencore Holding AG, and Glencore (Schweiz) AG. He also served as a Director at Century Aluminum Co. and Glencore Canada Corp. Additionally, he was an Independent Director at KKR Financial Holdings LLC from 2007 to 2014 and a Director at KKR Financial Corp. in 2007.

Willy R. Strothotte active positions

CompaniesPositionStart
MINARA RESOURCES PTY LTD Director/Board Member 2011-06-07
Asturiana de Zinc SA Non-Energy Minerals

Asturiana de Zinc SA explores, mines and markets zinc. Its products include zinc ingots, strips, bars and alloys. It also produces alloys, sulphuric acid, germanium, zinc powder, cadmium and mercury. Its main industrial operations are located in Cantabria and Asturias. The company is present in Canada, Peru, Spain, Great Britain, Germany and Australia. Asturiana de Zinc was founded on 8th October, 1957 and is headquartered in Madrid, Spain

Corporate Officer/Principal 2010-04-27

Former positions of Willy R. Strothotte

CompaniesPositionEnd
KKR FINANCIAL HOLDINGS LLC Director/Board Member 2014-04-29
XSTRATA PLC Chairman 2011-03-03
KKR Financial Corp. Finance

KKR Financial Corp. is a diversified real estate investment trust (REIT) and finance company that invests across multiple asset classes, including residential mortgage loans and mortgage-backed securities, corporate loans and debt securities, commercial real estate loans and debt securities, and asset-backed securities. The company is an affiliate of Kohlberg Kravis Roberts & Co. Founded in July 2004, KKR Financial Corp. is headquartered in San Francisco, CA.

Director/Board Member 2007-05-06
Glencore (Schweiz) AG Non-Energy Minerals

Glencore (Schweiz) AG explores and mines copper, coking coal, thermal coal, ferrochrome and vanadium. The company markets copper, coking coal, thermal coal, ferrochrome, vanadium and zinc with additional exposures to gold, lead and silver. The company exports coal and produces ferrochrome and vanadium in Australia and South African mines and smelts zinc in Spain (through subsidiary Asturiana de Zinc), mines anthracite in Swaziland, smelts zinc in Germany and harvests wood from a Chilean eucalyptus forest. The company is headquartered in Zug, Switzerland.

Chairman 2001-12-31
Glencore International AG Non-Energy Minerals

Glencore International AG engages in the production and marketing of natural resources and industrial commodities. It provides financing, logistics, marketing, and purchasing services to producers and consumers of commodities. It serves automotive, oil, power generation, steel production, and food processing industries. The company was founded in 1974 and is headquartered in Baar, Switzerland.

Chairman -

Experiences Positions held

Listed companies

Private companies

Connections

1st degree connections

1st degree companies

Members of the board

Linked companies

1
CENTURY ALUMINUM COMPANY

Non-Energy Minerals

10 Xstrata Plc Non-Energy Minerals

Xstrata Plc is engaged in the mining industry. Its business units include Xstrata Alloys, Xstrata Copper, Xstrata Zinc, Xstrata Coal, Xstrata Nickel, and Xstrata Technology Services. The Xstrata Alloys business unit produces ferrochrome, primary vanadium and owns carbon and anthracite operations, which supply key raw materials to its ferrochrome smelters. The Xstrata Copper business unit is a global copper producer and also manages a recycling business, Xstrata Recycling. The Xstrata Zinc business unit specializes in the mining and production of zinc. The Xstrata Coal business unit is an exporter of thermal coal and a significant producer of premium quality hard coking coal and semi-soft coal. The Xstrata Nickel business unit focuses on nickel and cobalt production and operates mines, refineries, and processing facilities. The Xstrata Technology Services business unit provides proprietary technologies and specialist services in the areas of mining, mineral processing, and metals extraction to major mining companies. The company was founded in 1926 and is headquartered in Zug, Switzerland.

KKR Financial Corp. Finance

KKR Financial Corp. is a diversified real estate investment trust (REIT) and finance company that invests across multiple asset classes, including residential mortgage loans and mortgage-backed securities, corporate loans and debt securities, commercial real estate loans and debt securities, and asset-backed securities. The company is an affiliate of Kohlberg Kravis Roberts & Co. Founded in July 2004, KKR Financial Corp. is headquartered in San Francisco, CA.

Glencore Canada Corp. Non-Energy Minerals

Glencore Canada Corp. engages in producing and marketing of commodities. Its assets include nickel, copper, coal and zinc mining operations and projects, agricultural facilities, and a consulting business. The company was founded in 1974 and is headquartered in Toronto, Canada.

KKR Financial Holdings LLC Finance

KKR Financial Holdings LLC engages in the provision of specialty finance and mortgage loans and asset-backed securities investment services. The company was founded in 2007 and is headquartered in San Francisco, CA.

Glencore (Schweiz) AG Non-Energy Minerals

Glencore (Schweiz) AG explores and mines copper, coking coal, thermal coal, ferrochrome and vanadium. The company markets copper, coking coal, thermal coal, ferrochrome, vanadium and zinc with additional exposures to gold, lead and silver. The company exports coal and produces ferrochrome and vanadium in Australia and South African mines and smelts zinc in Spain (through subsidiary Asturiana de Zinc), mines anthracite in Swaziland, smelts zinc in Germany and harvests wood from a Chilean eucalyptus forest. The company is headquartered in Zug, Switzerland.

Asturiana de Zinc SA Non-Energy Minerals

Asturiana de Zinc SA explores, mines and markets zinc. Its products include zinc ingots, strips, bars and alloys. It also produces alloys, sulphuric acid, germanium, zinc powder, cadmium and mercury. Its main industrial operations are located in Cantabria and Asturias. The company is present in Canada, Peru, Spain, Great Britain, Germany and Australia. Asturiana de Zinc was founded on 8th October, 1957 and is headquartered in Madrid, Spain

Glencore Holding AG Finance

Glencore Holding AG operates as a holding company with interest in providing investment services. It acquires, holds and manages investments for setting up of subsidiaries. The firm's primary subsidiary Glencore International AG trades in crude oil, petroleum, ferrous and non-ferrous metals, minerals and agricultural products. The company is headquartered in Baar, Switzerland.

Glencore AG Energy Minerals

Glencore AG engages in the trading in raw materials and other goods. Its product portfolio also includes sugar and grains. The company was founded on July 13, 1978 and is headquartered in Baar, Switzerland.

Non-Energy Minerals

Finance

Non-Energy Minerals

Finance

Non-Energy Minerals

Non-Energy Minerals

Finance

Energy Minerals

Glencore International AG Non-Energy Minerals

Glencore International AG engages in the production and marketing of natural resources and industrial commodities. It provides financing, logistics, marketing, and purchasing services to producers and consumers of commodities. It serves automotive, oil, power generation, steel production, and food processing industries. The company was founded in 1974 and is headquartered in Baar, Switzerland.

Non-Energy Minerals

Minara Resources Pty Ltd. Non-Energy Minerals

Minara Resources Pty Ltd. explores and mines for nickel and cobalt. The firm owns and operates the Murrin Murrin Nickel Cobalt project which involves the mining and processing of laterite ore to produce nickel and cobalt, exploration for nickel directly and in joint ventures with third parties and research and development of nickel and cobalt heap leaching and other hydrometallurgical methods of nickel extraction. The company was founded by John Andrew Henry Forrest on July 7, 1993 and is headquartered in Perth, Australia.

Non-Energy Minerals

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Xstrata hands Sir John Bond top job

Sir John will step down from the Vodafone board at its meeting in late July after five years as chairman

Sir John Bond, the outgoing chairman of Vodafone, has been drafted in to replace Willy Strothotte as chairman of Xstrata, the mining company at the centre of merger speculation.

The appointment of Sir John, the former HSBC chairman and chief executive, follows reports that Glencore, the Swiss trading company that owns 34 per cent of Xstrata and is preparing a £37 billion flotation in London, is on the verge of appointing Rodney Chase as its new chairman.

Sir John will step down from the Vodafone board at its meeting in late July after five years as chairman. He will immediately join Xstrata in a consulting capacity before formally replacing the long-serving Mr Strothotte at the company’s annual meeting in May.

Sir John was parachuted into

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Sailing the Orkneys: ‘Bryan saw a tall black fin breaking the water, followed by another – it was a pair of orcas’

  • September 9, 2024

Mark Browse sails across the fearsome Pentland Firth, one of the most difficult stretches of water in the British Isles, to explore the remote Orkney archipelago with its UNESCO prehistoric sites

willy strothotte yacht

Sitting on my living-room floor surrounded by tide tables, pilot books, and almanacs, one part of my upcoming voyage around Britain began to excite me more than the rest. I had never been to Orkney before; and although in purely cartographical terms it’s not all that far from the mainland, it seemed intriguingly remote.

It’s full of history and prehistory, and is beautiful to boot. I couldn’t wait to see it.

But we had to get there first. And that involves crossing one of the most fearsome stretches of water in the British Isles: the Pentland Firth.

Goldfinch, our Bénéteau Océanis 36cc, had left her home port of Ipswich in mid-May, and by the middle of June she had arrived in Wick. We spent three nights there, waiting for the weather to be just right for the crossing to Orkney.

willy strothotte yacht

Sunset at Stromness marina. Photo: Mark Browse

Crossing the Pentland Firth

Between the mainland of Britain and the Isles of Orkney lies the Pentland Firth. As the tide coming in from the vast Atlantic Ocean tries to sweep eastwards to the North Sea, it finds itself squeezed into a gap only six miles across.

The result is that this area has the second-fastest tidal streams in the world, reaching up to 16 knots at times. Dangerous tidal races spring up, known as ‘roosts’, like the one known as the ‘Merry Men of Mey’.

This might sound like a comic troupe of Morris dancers, but in breaking seas it can be dangerous. The Orkney and Shetland Sailing Directions, published by the Clyde Cruising Club, goes out of its way to make sure skippers don’t take this passage lightly: it has dire warnings in red ink.

The Firth is not especially wide, so getting across it safely is largely a matter of timing. Pick the right day for the weather, and the right hour for the tide.

Article continues below…

willy strothotte yacht

Sailing from Scotland to Ireland: ‘The mountains were swathed in a blanket of cloud and the waves became enormous’

The magic and mystery of the western isles of Scotland capture my imagination and draw me back every summer. This…

Photo: Nick Leather

Sailing across the Irish Sea: ‘We had never seen such evocative scenery’

Bleary eyed, we stumbled out of our sleeping bags as the boat rocked gently on her berth. Fumbling around we…

The weather forecasts suggested that the right day would be soon, so now I had to work out the best time to leave. As usual, the most trustworthy advice came from the locals.

The harbourmaster at Wick gave me a clear and believable instruction: be off Duncansby Head when it’s high water at Wick. It’s something like 10 miles from Wick to Duncansby Head, so it took us the best part of two hours, motoring in a half-hearted wind.

As we passed Duncansby Head we could see the northern shore of Scotland stretching away to port. A few miles to the west was John O’Groats, and beyond that Dunnet Head, the northernmost point of mainland Britain.

But our destination was further north than either of those. By now the true wind was astern, and the apparent wind almost nonexistent.

The face of the sea was calm; but even in these benign conditions it had a confused quality. Beneath the surface, we could feel Goldfinch’s keel being nudged forcefully in all directions by the contrary currents.

It took about an hour to cross the Pentland Firth. We passed between the southern tip of South Ronaldsay and the small island of Swona, and then up through Hoxa Sound and into Scapa Flow.

willy strothotte yacht

The ring of Brodgar is older than Stonehenge. Photo: Mark Browse

Scapa Flow is effectively an inland sea, with only a few channels connecting it to the outside ocean. On a map of the British Isles it looks like just a speck in the middle of the smudge that represents the Orkneys, but up close it is surprisingly big: around eight miles from north to south at the widest point, and 12 miles across.

It was in these sheltered waters that the Royal Navy had its base during the two World Wars, and it was here that the Germans deliberately sank their fleet in 1919, fearing that the ships would be seized by the British. Surrounding Scapa Flow are the islands themselves: mostly green, fairly low-lying land, with gentle hills.

To the west, the towering peaks of Hoy are very prominent, rising far higher than the rest of the landscape. As we motored across towards Stromness, the water was silky smooth, with barely a breath of wind to disturb it.

It was a magical moment. By 2030 we were in the marina at Stromness, all fast.

willy strothotte yacht

Goldfinch safely alongside in Stromness. Photo: Mark Browse

It had been a good day. The biggest island in Orkney is called, perhaps confusingly, Mainland (here, the landmass of Britain is referred to disparagingly as the ‘Sooth Island’).

We spent a few days on the Orkney Mainland, visiting some of the historic and prehistoric sites that had so excited me when I was planning this voyage. The Stones of Stenness are a mysterious group of standing stones dating back to Neolithic times.

From them, it is just a short walk to the even more impressive Ring of Brodgar, an awe-inspiring circle of stones that is older than Stonehenge.

On the Mainland

In the west of the island is Skara Brae, a Neolithic village that was discovered in the 1850s when a huge storm swept away much of the earth that had covered it for centuries. Like the Ring of Brodgar, it is older than both the Pyramid of Giza and Stonehenge.

Its great attraction is that the houses still contain much of the original stone furniture, and it is easy to see how they were laid out: a central fireplace, a stone ‘dresser’ which seems to have been used for storing or displaying possessions, and stone beds. As with the other Neolithic monuments of Orkney, there are many unanswered questions.

willy strothotte yacht

Joe, one of the crew, gingerly peers into the void at the precipitous Noup Head cliffs. Photo: Mark Browse

How did these people get here (presumably they regularly crossed the Pentland Firth in open boats), how did they live, and why did they leave? Archaeologists have been able to infer some of the answers, but there are many tantalising gaps in our knowledge.

The overwhelming impression of the place is that these people, who lived so many thousands of years ago, were not all that different from us. They worked for a living, played, and decorated their houses and bodies.

More recent history has also left its mark on Orkney. To the south and east, some of the smaller islands are connected to the mainland by the Churchill Barriers – massive barricades made of huge blocks of concrete that were put down during the Second World War to help protect the fleet anchored in Scapa Flow.

Situated on Lamb Holm is the Italian Chapel built by prisoners of war who were kept on the island to help with the construction of the barriers. The Italian Chapel is made out of nothing more than a pair of Nissen huts, but the men who built it were not content just to have a room in which to hold their church services.

The Italian prisoners of war decorated the Chapel with exquisite artistry, painting the inside to look like coloured tiles, carved stone, and stained glass, eventually creating a unique place of beauty in their exile.

willy strothotte yacht

Noup Head’s dramatic red stone cliffs are home to hundreds of seabirds. Photo: Mark Browse

After a few days on the mainland, we left Stromness, bound for Westray. This passage took us around the western side of Orkney.

At 1319 on 20 June, I wrote in the logbook that we had reached exactly 59° north. This is a record for Goldfinch, and the furthest north I have ever sailed.

It was good to be at sea again. Once we were out of the Sound, almost the whole passage to Westray was under sail, with a fine Force 4 on the beam and a flat sea – perfect conditions.

willy strothotte yacht

The tiny and enchanting Italian Chapel built and decorated by prisoners of war at Lamb Holm. Photo: Mark Browse

The wind gradually picked up during the day, and by the time we arrived in Pierowall harbour on Westray that evening, it had become a bit feisty. Goldfinch has a lot of windage up front, and in any kind of brisk cross-breeze, her bow will get blown around willy-nilly as soon as you slow down to safe manoeuvring speed, even with bow thrusters blaring.

Parking the boat in the little marina was really quite challenging, although we managed to tuck her between two yachts without mishap. Pierowall is in a substantial bay with a half-moon shaped beach of pale sand.

In the implausibly sunny weather we were having, the sea was a deep sapphire blue that would make the Mediterranean jealous.

The next day we took a taxi up to Noup Head on the north-west of Westray. From the lighthouse, there is a spectacular walk along the coast.

The dramatic red stone cliffs are home to hundreds of seabirds such as guillemots, terns, gannets, and puffins. It was a fine breezy day, and the whole lot of them were having a grand time wheeling about in the wind.

willy strothotte yacht

Looking across the Loch of Stenness. Photo: Mark Browse

To Kirkwall

Our plan had been to return to Stromness so that we could leave Goldfinch there in readiness for the next leg of the circumnavigation in July. But when we got up that morning, the day was grey and blowy.

We chatted to the locals and told them our intentions, and they were unanimously of the opinion that it would be a mistake to go to Stromness that day. The passage takes you outside of the Orkney archipelago, with nothing to the west of you but open ocean.

It had been flat and serene on our way up, but by now the swell had built up, and by all accounts, our journey would have been extremely uncomfortable. A better bet, we were told, was to go to Kirkwall instead.

willy strothotte yacht

The Old Man of Hoy appears in the distance. Photo: Mark Browse

This passage would take us down the middle of the islands, where we might experience some uncomfortable waves as the fast tide met the wind, but it would probably be bearable. It’s always a good idea to listen to the locals.

By the time we left Pierowall that afternoon, some hours later than our original plan the wind had moderated, and for most of the passage we had almost ideal sailing conditions. Some low-lying clouds clung to the islands and occasionally the visibility was poor, but much of the time the sun shone.

We had felt a bit of trepidation when setting out, with rumours of roosts and bone-shaking confused seas, but in the event we had a peaceful passage.

willy strothotte yacht

The majestic sight of two orcas playing made the passage to Kirkwall very memorable. Photo: Mark Browse

Surprise encounter

On the way we passed between the small islands of Faray and Eday. As we sailed through the sound, Bryan saw something that made him exclaim loudly: a tall black fin breaking the water, followed closely by another.

It was a pair of orcas. They were swimming in the same direction as Goldfinch, and only a few boat-lengths away, close enough for us to see quite clearly the black and white patterns on their sleek bodies. ‘Awesome’ is a much overused word these days, but it’s the only way to describe the sight of these beautiful, powerful creatures.

When we left Goldfinch in the last week of June, safely tucked up in Kirkwall, there was a northerly gale blowing in. The boat was rocking, the fenders were squeaking as they took the weight between hull and pontoon, and we had about seven lines securing her to the shore. During our time in Orkney we had had impossibly good weather, but now it was quite unpleasant, and we were all glad not to be at sea.

In July, Goldfinch continued her voyage round Britain, and we took our leave of Orkney, with Sir Peter Maxwell Davies’ Farewell to Stromness playing on the boat’s sound system. It was an amazing trip and I very much hope to return one day.

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Willy Strothotte's House

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Strothotte is the former CEO of Glencore, one of the world's largest commodity trading and mining companies. As of 2013, Swiss "Bilanz" magazine estimates his net worth at $1.95 billion.

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A pilot screening of prevalence of atopic states and opisthorchosis and their relationship in people of Tomsk Oblast

Profile image of Maxim  Freidin

2007, Parasitology Research

Related Papers

Public Health Open Access

stephen aremu

Introduction: Opisthorchiasis is no doubt one of the most neglected infectious disease inspite of its huge medical importance in some parts of the World. The past decade have seen a resurgence of interests in research relating to this public health issue, however there is still a lot to be done. Social Model: Not many models have been explored in Western Siberia to deal with the opisthorchiasis epidemic when compared to the different models that have been used for other regions affected by similar disease. Life Cycle: The complex life cycle of Opisthorchis felineus has humans and other feline species as definitive host and is really prevalent among the aboriginal population of the Western Siberian because of their habit of eating raw or undercooked fresh water fish (Cyprinidae) which are intermediate host of the parasite. Diagnosis and Treatment: Diagnosis involve the use of stool microscopy, other methods such as mAb ELISA, LAMP and so on are used, while the common treatment is the...

willy strothotte yacht

Charlotte Braun-fahrländer

World Allergy Organization Journal

Maria Prisco

Izabela Kupryś-Lipińska

Introduction: A dramatic increase in the prevalence of atopic diseases can be observed. The reasons for this phenomenon remain unclear. Aim: To compare the prevalence of atopic diseases in subjects living in the city centre and a rural area. Material and methods: The study was done on a randomly chosen group of inhabitants of Lodz province, aged 3 to 80 years, living in two different areas: the city centre and a rural area. Demographic data and the anamnesis were collected on the basis of standardised questionnaires. Additionally, skin prick tests and screening spirometries were performed. Results: The complete data from 482 subjects living in the city centre and 469 in the rural area were included in the analysis. Asthma prevalence in the city centre was estimated at 13.2% in adults and 18.4% in children compared to 4.2 and 6.0% respectively in the rural area. The prevalence of seasonal allergic rhinitis in the city centre was 13.2% in adults and 16.1% in children, in comparison to...

Online journal of biological sciences

Alexandra Tegza

Clinical & Experimental Allergy

Silver Siiak

Journal of Parasitic Diseases

Amin Ahmadi

PLoS Neglected Tropical Diseases

Hafizatul Zan

Suez Canal Veterinary Medical Journal. SCVMJ

Eman Youssef

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IMAGES

  1. Willy Stöwer

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  2. Willy Strothotte (66): Abschlag in der Karibik

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  3. Bilanz 300 Reichste 2022: Willy Strothotte

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  4. [EN IMAGES] Un yacht de 80 M$ aperçu au port de Québec

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  5. Willy Strothotte's House in Feusisberg, Switzerland (Google Maps)

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  6. Bootsbau: Besser als neu! Das Refit-Finale der Dehlya 25 "Willy"

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VIDEO

  1. Jumping off Willy T Norman Island BVI Bar Tour

  2. De Caribbean Regatta 7

  3. Crochet reversible blanket

  4. [ITA] WALLYWHY150

  5. Steamboat Willie

  6. Cruising the BVI's on a Leopard Power Cat

COMMENTS

  1. Glencore CEO Glasenberg on his way out, opening door for change

    The German Willy Strothotte was already running the day-to-day business. He and other traders urged Rich to give up his majority stake in the company. Rich refused, and forced Strothotte out in 1992.

  2. Why The Glencore Guys Aren't Billionaires, Yet.

    Two of them are Ivan Glasenberg and Willy Strothotte, who have been running commodities giant Glencore for nearly 20 years, ever since management bought out one-time fugitive financier founder ...

  3. Glencore's History and What Happened to the Company

    Founding Glencore CEO Willy Strothotte tees off on the first hole during the second round of the Pebble Beach National Pro-Am golf tournament at the Monterey Peninsula Country Club in Pebble Beach ...

  4. Willy Strothotte

    Willy R. Strothotte (* 1944 in Borken, Westfalen) ist ein deutscher Manager. Leben. Strothotte absolvierte nach Abschluss der Realschule eine kaufmännische Lehre. Ab 1964 war er als Rohstoffhändler in Österreich, Belgien und in den USA tätig. Er war von 1961 bis 1978 ...

  5. NSW mining: The buried gold, the crumbling fraud case and the

    Soon, a group of high-rolling businessmen were swept up in the gold fever, among them former Qantas chair Leigh Clifford and Willy Strothotte, the formidable former boss of Glencore, the world's ...

  6. Glencore shakes up management with three top traders to exit

    Willy Strothotte succeeded Rich when he was pushed out after a failed attempt to corner the zinc market; and Glasenberg succeeded Strothotte in 2002.

  7. The four-decade story of Glencore's explosive rise and fall

    Willy Strothotte became CEO. In 2001, Marc Rich was controversially pardoned by Bill Clinton on his last day as US president. It later emerged that Denise Rich, Marc Rich's wife, made a $1 million ...

  8. PDF XSTRATA PLC TO APPOINT NEW CHAIRMAN

    Xstrata plc announces that Willy Strothotte, Chairman, Xstrata plc ("Xstrata"), will retire from the Board as Chairman and nonexecutive director at the conclusion of the Annual General Meeting - ("AGM") on 4 May 2011. Sir John Bondwill join Xstrata's Board as a consultant with immediate effect and will be appointed

  9. Xstrata awaits Glencore overtures

    However, whatever Glencore's enthusiasm for the deal, it will have no sway on the Xstrata board as Mr Glasenberg and Willy Strothotte - the Glencore executives who are also directors of ...

  10. WHAT WILLY WANTS

    Willy Strothotte is an immensely wealthy and powerful man, widely respected and also feared. For 10 years he has run Glencore International, a secretive Swiss-based private company he has built ...

  11. Xstrata to shake up board

    WILLY Strothotte, the chairman of Glencore and FTSE 100-listed miner Xstrata, is due to leave his post at Xstrata in the coming year as part of a board-room changeover. Strothotte has been at the ...

  12. Willy R. Strothotte

    Willy R. Strothotte. Mr. Strothotte was Chairman and CEO of Glencore International AG, the world's largest integrated mining company and commodities trader. Prior to Glencore, from 1961 to 1978 Mr. Strothotte held various positions with responsibility for international trading in metals and minerals in Germany, Belgium and the USA. In 1978 ...

  13. Willy R Strothotte

    Willy R. Strothotte 69 Mr. Strothotte has been a director since January 2007. Mr. Strothotte is Chairman of Glencore International AG. From 1961 to 1978 Mr. Strothotte held various positions with responsibility for international trading in metals and minerals in Germany, Belgium and the USA. In 1978, Mr. Strothotte joined Glencore International ...

  14. Willie R. Strothotte

    Biographical Information "Willie R. Strothotte, Willy serves as a Director-General of Glencore International AG, Glencore Finance AG and Glencore Investment AG. Mr. Strothotte served as the Chief Executive Officer of Glencore International AG from 1993 to 2001. He joined Glencore International AG in 1978 and served as its Head of Metals and Minerals since 1984.

  15. Willy R. Strothotte: Positions, Relations and Network

    Company connections. Profile. Willy R. Strothotte is currently a Non-Executive Director at Minara Resources Pty Ltd. and a Vice President at Asturiana de Zinc SA. Previously, he held Chairman positions at Glencore International AG, Xstrata Plc, Glencore AG, Glencore Holding AG, and Glencore (Schweiz) AG. He also served as a Director at Century ...

  16. Xstrata hands Sir John Bond top job

    Sir John Bond, the outgoing chairman of Vodafone, has been drafted in to replace Willy Strothotte as chairman of Xstrata, the mining company at the centre of merger speculation. The appointment of

  17. Sailing the Orkneys: 'Bryan saw a tall black fin breaking the water

    Goldfinch has a lot of windage up front, and in any kind of brisk cross-breeze, her bow will get blown around willy-nilly as soon as you slow down to safe manoeuvring speed, even with bow thrusters blaring. Parking the boat in the little marina was really quite challenging, although we managed to tuck her between two yachts without mishap.

  18. Willy Strothotte's House

    Willy Strothotte's House in Feusisberg, Switzerland (Google Maps) Feusisberg, Switzerland (CH) Strothotte is the former CEO of Glencore, one of the world's largest commodity trading and mining companies. As of 2013, Swiss "Bilanz" magazine estimates his net worth at $1.95 billion. Homes - Celebrity - Business. Links: de.wikipedia.org. By: Xeba73.

  19. Willy Strothotte's House in Feusisberg, Switzerland

    Bing Maps. By Xeba73 @ 2013-02-06 00:52:42. @ 47.1889852, 8.7636527. Feusisberg, Switzerland (CH) Strothotte is the former CEO of Glencore, one of the world's largest commodity trading and mining companies. As of 2013, Swiss "Bilanz" magazine estimates his net worth at $1.95 billion.

  20. Tomsk History Facts and Timeline

    The year of 1629 was a memorable one in Tomsk history, since this growing village was awarded the status of a town. With so many wooden buildings built so close together, Tomsk was really a fire waiting to happen, and sure enough, in 1643, a devastating fire swept through the entire town. The fire destroyed everything in its path, including the ...

  21. Strezhevoy

    Joint-stock company Tomskneft, a Tomsk-based oil production company controlled by Rosneft, is located in Strezhevoy, and the town grew up around the company's expanding needs. [8] Most of the town's housing and all of its major public amenities were constructed around the company's needs in the 1960s and 1970s.

  22. Parabelsky District

    Parabelsky District ( Russian: Парабе́льский райо́н) is an administrative [1] and municipal [4] district ( raion ), one of the sixteen in Tomsk Oblast, Russia. It is located in the northern, central, and southwestern parts of the oblast. The area of the district is 35,846.69 square kilometers (13,840.48 sq mi). [citation needed]

  23. (PDF) A pilot screening of prevalence of atopic states and

    A pilot screening of prevalence of atopic states and opisthorchosis and their relationship in people of Tomsk Oblast