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”.