Trader and shipowner Trafigura Group is shaking up its top team as one of its “big three” bosses leaves.
The commodities giant said it is carrying out an evolution of its executive structure “to further strengthen leadership and focus across its global activities during a period of exceptional success and growth”.
The changing of the guard reflects the forthcoming retirement of Mike Wainwright, its chief transformation officer and former chief operating officer.
Wainwright, together with chief executive Jeremy Weir and executive director Jose Larocca, stepped up to run the group when founder Claude Dauphin died in 2015.
The CTO said he was retiring back in April, and intends to leave in March 2024.
The three top executives are also major shareholders.
Wainwright took on the CTO role in April to oversee the orderly transition of his responsibilities and company directorships.
He was appointed COO and board member in 2008, having joined Trafigura in 1996.
Alongside Weir and Larocca, the new committee will include Richard Holtum, head of gas, power and renewables, oil boss Ben Luckock and Ignacio Moyano, who takes on the new role of chief risk officer.
The rest of the committee comprises metals, minerals and bulk commodities head Gonzalo De Olazaval, chief financial officer Christophe Salmon and COO Emma Stroud.
The moves are seen as giving energy trading units more power at the top table, given the poor performance of metals over the past couple of years, sources told Reuters.
Four previous members of the management committee will no longer feature.
Hadi Hallouche will continue in his role as chief executive at Puma Energy, while Kostas Bintas remains responsible for aluminium and copper.
Jesus Fernandez is still head of mergers and acquisitions and Julien Rolland will continue to lead strategic projects.
