Mining giant Xstrata said Willy Strothotte will retire as chairman at the miner's annual general meeting on 4 May to be replaced by Vodafone chairman Sir John Bond.
Strothotte is also chairman of Glencore. The world's largest commodity trader is considering a possible stock market listing this year that could value it at about $60bn.
Bond will join the board of Xstrata as a consultant with immediate effect.
City A.M. Reporter