China’s CMOC Elevates Ex-Glencore Trader as Top Execs Depart
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China’s CMOC Group Ltd., one of the world’s fastest-growing miners, unveiled major management changes with the departure of its chairman and vice chair and the addition of four new senior executives — including former Glencore Plc trader Kenny Ives.
The copper-and-cobalt giant’s chairman Yuan Honglin and vice chair Li Chaochun both resigned for personal reasons and had no disagreement with the board, CMOC said in an exchange filing on Sunday. Two new executive directors were nominated to the board, and a new vice president appointed, while Ives, already head of CMOC’s trading unit IXM, will become chief commercial officer.