Trafigura has lost two more top executives in a management reorganisation.
The Swiss trading and chartering giant, which also owns ships, said executive director Jose Maria Larocca and chief financial officer Christophe Salmon have resigned.
Larocca, who is also an Olympic equestrian representing Argentina, will retire at the end of September.
He joined Trafigura in 1994 and was appointed to the management board as head of oil and petroleum products in 2007.
Larocca was one of three big bosses who stepped up to run the group when founder Claude Dauphin died in 2015.
The others were chief executive Jeremy Weir and former chief operating officer Mike Wainwright, who retired in March after resigning last year.
Wainwright and Trafigura were charged in Switzerland in December with paying bribes to an oil company boss in Angola. Wainwright denies the charge.
Salmon will retire at the end of June.
He joined Trafigura in 2012 and has served as group CFO for almost 10 years, overseeing multibillion-dollar financing deals with lenders worldwide.
New CFO
Last week, Salmon arranged $560m of financing in Japan to support an LNG import deal.
Ben Luckock will continue as global head of oil, while Stephan Jansma, currently chief financial officer in Asia Pacific, will become group CFO on 1 July.
Weir said: “Jose has played a pivotal role in driving Trafigura’s growth and success from the company’s earliest days to today.
“On behalf of the board and entire company, I pass on our sincere thanks and recognition for all that he has achieved and his leadership over the past 30 years.”
He added that Salmon has also made a major contribution to the company.
“His considerable skill, energy and commitment to the success of our business leaves Trafigura in a robust position for future growth. With these strong foundations, we wish Stephan every success in his new role,” Weir said.
Jansma brings more than 25 years of experience in the commodities and banking industry.
He joined Trafigura in 2013 as head of structured & trade finance, having previously held positions at Rabobank, as head of energy in Asia, and at Fortis Bank in London, the Netherlands and Singapore.
Last week, Trafigura resolved a US probe into historic bribes made by former employees or agents in Brazil.
It said the US Department of Justice had been investigating events that took place 10 or more years ago.
“This conduct was and is inconsistent with the company’s principles, contractual terms and code of conduct,” Trafigura said of the case.
Under the terms of the plea agreement, Trafigura Beheer, the parent company of Trafigura Group during the relevant period, will pay a total of $127m.
