Investor overtakes CEO in Glencore shareholding

London

INVESTOR David Herro has bought more Glencore plc shares and now owns a bigger stake in the Swiss commodity trader-cum-miner than its billionaire chief executive officer Ivan Glasenberg.

The "bear story was way, way overblown and as a result we have the company rising from the abyss", Mr Herro said in an interview on Monday. "We still think the company has significant upside from here."