Glencore forms committee to oversea US government subpoena

Glencore announced today that it formed a committee of the Board to oversee the company’s response to the DOJ’s subpoena. This committee comprises the Chairman, Tony Hayward, Leonhard Fischer (Independent Non-Executive Director) and Patrice Merrin (Independent Non-Executive Director).

Chairman Tony Hayward said: “Glencore takes ethics and compliance seriously throughout the Group. The Company will cooperate with the DOJ, while continuing to focus on our business and seeking to maximize the value we create for our diverse stakeholders in a responsible and transparent manner.”

While the DOJ request was initially for documents relating to its businesses in Congo, Venezuela and Nigeria, the government is under no restriction to stop there and can use any information found in its investigation to pursue other cases, government attorneys say.

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