Companies

Feb 26, 2013

Kloppers ‘really screwed up’, but still gets $85m for BHP stint

Departing BHP boss Marius Kloppers is leaving the mining company in far worse shape than he found it -- and being paid handsomely for it. Even Rich Lister Ivan Glasenberg took a swipe today.

Adam Schwab — Business director and commentator

Adam Schwab

Business director and commentator

The unthinkable has happened: a CEO has taken aim at one of their own. BRW Rich Lister Ivan Glasenberg has launched an assault on outgoing BHP and Rio chief executives Marius Kloppers and Tom Albanese, and he didn’t miss.

Glasenberg, who has amassed a personal fortune of more than $7 billion since taking the reins of Swiss-based Glencore, attacked the spendthrift ways of his rivals, telling investors that Rio and BHP “really screwed up” and that Glencore has “always been wanting to keep building and keep putting the cash which we generate into new assets. That’s what we’ve got to stop doing as a mining industry. We’ve got to learn about demand and supply”.

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3 comments

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3 thoughts on “Kloppers ‘really screwed up’, but still gets $85m for BHP stint

  1. dooby

    I think you mean $2.8billion written off on the shale gas investment.

  2. drmick

    This trash was pontificating against the Government & its restrictive practices while pi55ing investors money against a shale wall and stuffing his bags with the money that wasn’t splashed.
    He joins the other financial genii sacked, disgraced and discredited, who not only designed and maintained the GFC, aided and abetted the bailout of everyone except we investors, shat on the government & the prime minister then left for a tax haven.
    This is the future under the party that they sponsor.

  3. john willoughby

    lamp posts and rope… its coming..

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