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Glencore CEO Gary Nagle's salary will fall slightly in 2024 (archive image)
Keystone
The head of commodities trader and mining group Glencore earned only slightly less last year despite a high loss. While Gary Nagle's basic salary increased, his bonus was lower.
After total remuneration of 5.8 million US dollars in 2023, the Glencore CEO received slightly less at just under 5.3 million for 2024, as can be seen in the annual report published on Tuesday.
Meanwhile, his company is known to have posted a loss of 1.6 billion dollars last year. For example, falling average prices for thermal coal caused Glencore to write down its value by 5.3 billion in South Africa.
Meanwhile, Nagle received a basic salary of 2.15 million dollars, 159,000 dollars more than in the previous year. His bonus for 2024 was canceled in return. Including the long-term incentive plans, however, the variable salary component only fell by 727,000 dollars to 3.116 million.
The company puts the total remuneration of all Glencore management, including pension contributions, at 8.094 million dollars for 2024, compared to 8.737 million dollars for 2023.
18.03.2025, 10:06
