— Anti-Corruption News Story Curated by Anti-Corruption Digest International Risk & Compliance News

Alex Beard helped build Glencore into one of the world’s top three oil trading houses and became a billionaire when it listed on the stock market in 2011.

The 51-year-old joined Glencore in 1995, and is stepping down at the end of the month as the group shakes up its management team in the face of two probes.

The US Department of Justice is scrutinising Glencore’s activities in the Democratic Republic of Congo, where it produces copper and cobalt, and Venezuela and Nigeria, where it trades oil, in relation to anti-corruption and money-laundering laws.

Earlier this year Glencore revealed that the US Commodity Futures Trading Commission was also investigating whether the company might have been involved in ‘corrupt practices’.

Source: Glencore’s long-standing oil boss quits amid U.S. investigations | This is Money