Glencore CEO won’t ‘fix what’s not broken’ as earnings soar

Glencore CEO won’t ‘fix what’s not broken’ as earnings soar

2021-08-05 09:00:00 PM

Glencore CEO won’t ‘fix what’s not broken’ as earnings soar

A strong financial result has translated into handsome returns for shareholders worth $2.8bn

Lisa SteynGlencore’s hot seat proved to be more of a warm embrace for its new, SA-born CEO Gary Nagle on Thursday when he presented a strong set of results on the back of roaring commodity prices, which spurred the resources group’s interim earnings to record highs and saw shareholders rewarded with $2.8bn in returns.

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For the half-year ended in June, Glencore posted a record $8.7bn in adjusted earnings before interest, tax, depreciation and amortisation (ebitda), marking a 79% increase from $4.8bn in the first half of 2020. Cash generation was also strong, with funds from operations almost doubling to $7.3bn. Strong free cash flows allowed the company to deleverage its balance sheet quicker than expected, with net debt dropping from $15.8bn in December to $10.6bn at the end of June, which is at the bottom end of the group’s debt target range...

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eNCA Entrepreneurship Friday | 17 September 2021

From doing fresh fades on his stoep to opening his 50th store. Legends Barbershop was started in 2011 but its growth in the market took off in 2014.\u003Cbr /\u003E\r\nSheldon Tatchell took a stab in starting the country’s most talked-about barbershop. And what\u0026#039;s great is that he has not kept his talent to himself.\u003Cbr /\u003E\r\nLegends has a training platform for budding barbers looking to enter the industry.

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Telkom appoints insider Serame Taukobong as CEO designateThe country's third-biggest telecom company Telkom said on Wednesday it has appointed the head of its consumer business, Serame Taukobong to be group CEO designate with effect from October 1. Taukobong, who is also a group Executive Committee Member, replaces Sipho Maseko who will step down at the end of June next year.

Telkom appoints insider Serame Taukobong as CEO designateTelkom said on Wednesday it had appointed the head of its consumer business, Serame Taukobong, to be group CEO designate with effect from October 1. Forward! Extremely happy for him...🤞🏿🎊🥳

CEO-in-waiting Serame Taukobong to stick with Telkom’s winning mobile formulaTaukobong takes over from Sipho Maseko in July 2022 and the two will work together to ensure an orderly transition I'm happy to join those who are sharing the good news about shantelll_142 . I'm not persuading anyone to trade with her but i advise every investor to make the right choice with shantelll_142 i got my withdrawal safely without any interruption. Tell him to improve its network across the country

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