Trading house to announce as early as next week that head of gas, power and renewables will succeed Jeremy Weir
Trafigura, one of the world’s biggest commodity traders, is preparing to announce the appointment of Richard Holtum as its next chief executive as soon as next week, according to people with knowledge of the matter. Holtum, 39, a former British military officer, has enjoyed a rapid rise at Trafigura since he joined from Glencore in 2014. He currently runs Trafigura’s gas, power and renewables division.
The company and its former chief operating officer Mike Wainwright, who helped Weir run the business until last year, will go on trial in Switzerland in December over alleged bribery in Angola between 2009 and 2011. Trafigura has said Wainwright rejects the charges against him. Weir’s tenure also included one of the biggest scandals in the metals sector, in which Trafigura lost about $600mn due to alleged fraud by its trading partner Prateek Gupta.
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