Glencore Xstrata chairman Bond says will not be reelected

Reuters

Glencore Xstrata chairman John Bond told investors he would not be reelected at the miner and trader's first annual general meeting on Thursday.

Bond handed responsibility for chairing the shareholder gathering to director Tony Hayward.

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Bond, a City veteran who was formerly chairman of miner Xstrata, had been due to stand down after the merger, once a replacement was found. But Thursday's announcement comes months ahead of his expected departure.

(Reporting by Clara Ferreira-Marques; Editing by Sinead Cruise)