LONDON (Reuters) - Trafigura has tripled the size of its management committee, bolstering the position of CEO Jeremy Weir while also giving more responsibility to the next generation of potential leaders, the Swiss commodities trader said on Tuesday.
The nine-person committee will oversee day-to-day trading, commercial and operational functions as well as investments, according to an internal memo sent by Weir and seen by Reuters.
It replaces the previous three person executive committee, which was comprised of the CEO, chief operating officer and global head of oil trading. Weir will also take on the role of executive chairman.
As well as Weir, the committee will include Chief Financial Officer Christophe Salmon, Chief Operating Officer Mike Wainwright, the co-heads of market risk Ben Luckock and Rob Gillon, the head of mergers and acquisitions Jesus Fernandez, plus the heads of Trafigura’s key trading divisions.
These are the global head of oil trading Jose Larocca, the global head of refined metals and concentrates Amin Zahir and the global head of coal and iron ore Julien Rolland.
Rob Gillon is also a board member of Trafigura’s down and midstream arm Puma Energy. Trafigura holds a 49.6 percent stake in Puma.
“The change marks a further step in the development of Trafigura Group’s governance. It formalises the role of a wider management group in supporting the Executive Chairman, and gives additional responsibility to members of the next generation of Trafigura leaders,” a Trafigura spokesman said.
Reporting by Julia Payne; Editing by Jason Neely and Mark Potter