2023-06-28 15:28:18 ET
Activist investor Bluebell Capital Partners sent a letter to Glencore's ( OTCPK:GLCNF ) ( OTCPK:GLNCY ) board on Wednesday seeking the removal of CEO Gary Nagle and starting a search for a new CEO from outside the company.
Bluebell, which has not disclosed the size of its shareholder stake, started an activist campaign at Glencore two years ago when it urged the company to sell its Viterra agricultural business, which Bunge agreed to acquire earlier this month .
Nagle's re-election as CEO won the support of 99% of shareholders at this year's annual general meeting.
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For further details see:
Glencore shareholder Bluebell Capital urges search for new CEO