{"id":10949,"date":"2012-05-31T22:29:04","date_gmt":"2012-05-31T20:29:04","guid":{"rendered":"http:\/\/www.myza.co.za\/05\/update-2-xstrata-ceo-set-for-46-million-package-to-stay-on\/"},"modified":"2012-05-31T22:29:04","modified_gmt":"2012-05-31T20:29:04","slug":"update-2-xstrata-ceo-set-for-46-million-package-to-stay-on","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-xstrata-ceo-set-for-46-million-package-to-stay-on\/","title":{"rendered":"UPDATE 2-Xstrata CEO set for $46 million package to stay on"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Glencore $30 bln all-share bid for Xstrata confirmed in<br \/>\ndocuments<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Glencore shareholders to vote on July 11<\/p>\n<p><span><\/span><\/p>\n<p>* Xstrata shareholders vote on July 12<\/p>\n<p><span><\/span><\/p>\n<p>* Xstrata, Glencore to pay almost $200 million for advice<\/p>\n<p><span><\/span><\/p>\n<p>By Clara Ferreira-Marques<\/p>\n<p><span><\/span><\/p>\n<p>LONDON, May 31 (Reuters) &#8211; Xstrata Chief Executive<br \/>\nMick Davis will get a three-year deal worth almost 30 million<br \/>\npounds ($46 million) to stay at the helm once the miner joins<br \/>\nforces with Glencore, a windfall likely to anger some of his<br \/>\nshareholders.<\/p>\n<p><span><\/span><\/p>\n<p>In a document sent to investors on Thursday detailing the<br \/>\nterms of the long-awaited $30 billion takeover bid by trader<br \/>\nGlencore, Xstrata said retention deals for 73 of its<br \/>\nkey employees would total more than 170 million pounds.<\/p>\n<p><span><\/span><\/p>\n<p>All managers and senior executives other than Davis will be<br \/>\noffered two-year packages to stay on after the all-share merger<br \/>\nis completed in the third quarter of this year, as Xstrata seeks<br \/>\nto hold on to its operating expertise.<\/p>\n<p><span><\/span><\/p>\n<p>Davis, a veteran miner, is well respected as the architect<br \/>\nbehind Xstrata, a mining powerhouse largely created over a<br \/>\ndecade.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Glencore $30 bln all-share bid for Xstrata confirmed in documents * Glencore shareholders to vote on July 11 * Xstrata shareholders vote on July 12 * Xstrata, Glencore to pay almost $200 million for advice By Clara Ferreira-Marques LONDON, May 31 (Reuters) &#8211; Xstrata Chief Executive Mick Davis will get a three-year deal worth [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-10949","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10949","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=10949"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10949\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=10949"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=10949"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=10949"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}