Ivan Glasenberg appointed his nephew as head of oil assets at Glencore, the latest changing of the guard in the senior ranks of the world’s largest commodity trader.
Colin Glasenberg, who joined Glencore’s energy business in 2011, is now part of senior management and oversees oil fields in Chad and Equatorial Guinea.
The appointment reflects a change in the management structure of the oil division. In June, Glencore announced it would split the role of department chief in two, and name separate executives to run trading and assets. In the past, the head of oil was in charge of both. Alex Sanna oversees Glencore’s oil trading business.