Glencore's Billionaire Copper Chief Retires Under Legal Pressure
- Nico Paraskevas will take role of head of copper trading
- Glencore also revised forecast for 2018 core trading profit
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Glencore Plc announced the retirement of billionaire Aristotelis Mistakidis, its embattled head of copper trading and one of the company’s biggest shareholders.
Mistakidis’s departure marks the end of an era. The 56-year-old executive is one of the world’s most powerful commodities traders and built Glencore’s reputation as a dominant force in copper. But he’s come under intense pressure recently following a string of investigations, problems and legal headaches.