LONDON Dec 4 Xstrata's chief financial
officer Trevor Reid has decided against taking up the same role
at Glencore Xstrata, as had been expected upon completion of the
miner's merger with Glencore International.
The departure - though unlikely to surprise many in the
industry, given Reid's close relationship with outgoing Xstrata
CEO Mick Davis - will raise fresh concerns over executive
departures from Xstrata, after shareholders failed to approve a
controversial retention plan.
Shareholders in Xstrata voted through a $31 billion takeover
by trader Glencore last month but twice snubbed a controversial
pay plan to retain key managers.
Xstrata said Reid would be a consultant to the combined
group for up to six months following completion of the merger.