Glencore Xstrata is set to appoint former BP boss Tony Hayward as interim chairman, after John Bond failed to be reelected to the top job at the company's inaugural shareholder meeting, a source with knowledge of the matter said.
Bond had been expected to step down following trader Glencore's takeover of miner Xstrata, but only once a replacement was found. Instead, he abruptly left after announcing to investors on Thursday that he had not been reelected.
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Hayward was already senior independent director, a role he took when Glencore listed in 2011. At the time, the move was seen as a comeback for the former chief executive of oil major BP, ousted from the role after the Deepwater Horizon disaster.
(Reporting by Clara Ferreira-Marques; Editing by Sinead Cruise)