Leadership changes for Iluka and Glencore

Iluka Resources has announced the retirement of its chairman Rob Cole, while Glencore’s David Wormsley has notified the company he will retire from the board of directors.

Cole, who joined Iluka’s board in March 2018 and became chair in April 2022, has stepped down effective of December 13 due to health reasons after taking temporary leave last month.

Iluka acting chair Andrea Sutton praised Cole’s leadership during his tenure, highlighting significant milestones under his guidance, including the demergers of Deterra Royalties and Sierra Rutile, as well as Iluka’s strategic shift into rare earths.

“At his AGM address in May, Rob reflected on Iluka’s resilience and commitment to delivering sustainable value,” Sutton said.

“His personal contribution to this commitment has been unwavering, on behalf of the board, I thank Rob for his outstanding leadership and service to the company.”

Iluka managing director Tom O’Leary also thanked Cole for his quality work and support.

“Rob’s contribution at board has always been of the highest calibre, and I’m grateful for his support, particularly since taking the Chair role in 2022,” O’Leary said. “All of us at Iluka are wishing him the very best for his recovery.”

Iluka said Sutton will continue as acting chair until the board appoints a permanent successor.

Glencore’s Wormsley will leave the company effective December 31.

“David has been an effective and thoughtful contributor to the work of Glencore’s board of directors,” Glencore chairman Kalidas Madhavpeddi said.

“On behalf of the board, I would like to thank him for his service to Glencore and wish him well for his future endeavours.”

Wormsley reflected fondly on his tenure at Glencore and said the company will continue to perform strong in his absence.

“It has been a great pleasure to have been a member of the Glencore board,” he said. “I have every confidence the company will continue to go from strength to strength under Gary Nagle’s leadership.”