Wedoany.com Report-Aug. 11, Glencore Plc is restructuring its trading division as Ruan van Schalkwyk, head of coal trading, retires, marking a major overhaul, as outlined in a memo from CEO Gary Nagle on August 8, 2025. The company, historically linked to commodity trader Marc Rich, faces share price challenges.

The head of Glencore Plc's huge coal-trading operation is leaving.

After a $1 billion cost-cutting announcement and a review of its assets, Glencore reported weak first-half results on August 6, 2025, with its energy and coal trading underperforming, unlike its record-setting metals trading.

Van Schalkwyk, 42, who led coal trading since 2021 after ferroalloys, was once called part of “the new generation of the company” by ex-CEO Ivan Glasenberg in 2018.

Jyothish George, head of copper and cobalt trading, will now lead metals, iron ore, and coal trading. Peter Hill (iron ore) and Robin Scheiner (alumina and aluminum) will report to George, while Alex Sanna (oil, gas, power) remains under Nagle.

David Thomas will manage thermal coal, Paymahn Seyed-Safi will handle chrome and nickel, and Hill will oversee metallurgical coal, vanadium, and manganese. Following its acquisition of Teck Resources Ltd.’s coal business, Glencore, the top global coal shipper, aims to align operations. Nagle stated: “We now feel the time is right to merge our steelmaking coal marketing activities with our iron ore business due to their overlapping customer bases.”

Shares rose 2.7% in London on August 8, despite a 19% yearly drop.