Glencore CEO says he had no idea about corruption at the mining company

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Glencore CEO says he had no idea about corruption at the mining company
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Gary Nagle says he knows nothing about misconduct at the company as well as denying it was widespread

The CEO of diversified miner and commodity trader Glencore says he did not know anything about corruption at the company and denied that the issue was widespread.

Glencore in May admitted to paying bribes in numerous countries in Africa and Latin America from 2007-2018, and agreed to pay more than $1bn to regulators in the US, UK and Brazil. “These were specific incidents in specific markets in specific areas of the business,” he said. “This was not widespread across the entire business. It was specific areas where misconduct took place.”

Nagle was based in Baar until 2007, when he moved on to roles in Colombia and Australia, but said on Thursday that he had not known about the desks’ existence.

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