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Xstrata CFO Trevor Reid decides against Glencore-Xstrata role
December 4, 2012 / 9:46 AM / in 5 years

Xstrata CFO Trevor Reid decides against Glencore-Xstrata role

LONDON, Dec 4 (Reuters) - 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.

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