Skip to content
Subscriber Only

Glencore Shrinks Job of Billionaire Copper Head Amid Congo Probe

  • Smelting boss to run industrial copper, people familiar say
  • Billionaire Mistakidis to remain head of marketing, they say

Glencore Plc reduced the role of its billionaire head of copper, Aristotelis Mistakidis, shaking up the business after a review in the Democratic Republic of Congo raised questions about accounting and management.

Mistakidis, one of Glencore’s largest shareholders and a key lieutenant of Chief Executive Officer Ivan Glasenberg for more than a decade, will lose control of industrial copper operations including mines and focus on the trading side of the business, according to people familiar with the plans.