Glencore finds facts that “may be relevant” to corruption probes
Miner and commodities trader Glencore (LON: GLEN) has found certain facts that “may be relevant” to the probes it’s facing and has shared them with regulators, the company’s auditor said.
Deloitte, which conducted the audit overview of Glencore’s annual report, say it had “identified facts” that may help authorities progress on the multiple, but separate alleged corruption and bribery investigations targeting the Swiss company.
The ongoing probes in the UK, the US and Brazil, have scared investors and shaken the company over the past two years.
Today’s news is likely to increase pressure on chief executive officer Ivan Glasenberg. He told investors last month to prepare for more leadership changes and hinted that his own departure may come sooner than previously anticipated.
“The group is continuing to co-operate with the various regulatory and enforcement authorities on further subpoenas and information requests received,” chairman Tony Hayward said in the report.