The Local Authority Pension Fund Forum, which represents 60 pension funds in the UK, said it is advocating an oppose vote to Hayward’s re-election at May’s annual meeting on the grounds of “lack of progress” on female board representation.
The former BP boss was appointed interim chairman last May. He is also chief executive of Kurdistan-focused oil explorer Genel and it is understood that Glencore expects him to transition out of the executive role there over a period of time.
“Tony Hayward is and continues to be chief executive of Genel Energy and will continue to do both roles, as he has done successfully for the past 12 months,” said a Genel spokesman.
HAYWARD’S RETURN TO THE TOP
1 GULF OF MEXICO DISASTER
He resigned as chief of BP after the infamous 2010 oil spill
2 GENEL ENERGY
He became boss in 2011 after it merged with Vallares
3 BACK TO THE FTSE 100
Glencore wants to grow its oil unit so Hayward’s contacts and knowledge will be useful