By Jaime Llinares Taboada

Glencore PLC said Monday that Tony Hayward will retire as chairman of the company, and has appointed Kalidas Madhavpeddi to replace him with effect from July 30.

The commodities producer and marketer said the retirement of Mr. Hayward was agreed following consultation with the company's largest shareholders. Mr. Hayward has been chairman of Glencore since 2013.

Mr. Madhavpeddi has more than 40 years of experience in the international mining industry, including as chief executive of China Molybdenum International from 2008 to 2018, Glencore said. He joined the board of Glencore in February 2020.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

07-05-21 0226ET