Difference between revisions of "Xstrata"

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'''Xstrata''' is a FTSE 100 Anglo-Swiss mining company, of which 34.5% is currently owned by mining giant [[Anglo American]].<ref>Alex MacDonald, [http://www.marketwatch.com/story/glencore-lockups-expire-may-facilitate-big-deals-2011-11-24 Glencore lockups expire; may facilitate big deals], MarketWatch, 24 November 2011, accessed 1 December 2011</ref> In 2011 its chief executive [[Mick Davis]] was ranked as the highest-earning CEO of the FTSE 100.<ref name="ids">Directors' Pay Report 2011 (2011), IDS, London. See also: Stephen Foley, '[http://www.independent.co.uk/news/business/news/business-as-usual-top-directors-get-49-per-cent-pay-rise-2376929.html Business as usual: top directors get 49 per cent pay rise]', The Independent, 28 October 2011, accessed 30 November 2011</ref>
  
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'''Xstrata''' is a FTSE 100 mining company. in 2006 it acquired 100% of [[Falconbridge]],<ref>[http://www.xstrata.com/assets/acquisition/falconbridge/pdf/200611021.en.pdf News Release: Xstrata Completes Acquisition of Falconbridge]', Xstrata, 2 November 2006, accessed 30 November 2011</ref> in a deal steered by [[Ian Hannam]] of [[JP Morgan]].<ref>Marion Dakers, ‘[http://www.cityam.com/news-and-analysis/heritage-oil-shares-surge-after-talk-takeover-interest-the-middle-east Heritage Oil shares surge after talk of takeover interest from the Middle East]’, “City AM”, 18 March 2011, accessed 10 July 2011</ref>
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==Activities==
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===Stratospheric executive pay and tax havens===
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The '''Directors' Pay Report 2011''' by [[IDS]] revealed that Xstrata CEO [[Mick Davis]] earned £18,426,105 in the year till June 2011, making him the highest-earning FTSE 100 CEO of the year.<ref name="ids"/>
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A new tax havens database published in October 2011 by the anti-poverty charity ActionAid revealed that Xstrata has 55 subsidiaries in tax havens, 14% of its total. <ref>ActionAid 'Addicted to tax havens', 11 October 2011, accessed same day; [http://www.actionaid.org.uk/103031/ftse_100_tax_haven_tracker.html FTSE 100 Tax Haven Tracker], Action Aid, accessed 1 November 2011</ref>
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===Falconbridge Acquisition===
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In 2006 [[Xstrata]] acquired 100 per cent of [[Falconbridge]],<ref>[http://www.xstrata.com/assets/acquisition/falconbridge/pdf/200611021.en.pdf News Release: Xstrata Completes Acquisition of Falconbridge]', Xstrata, 2 November 2006, accessed 30 November 2011</ref> in a deal steered by [[Ian Hannam]] of [[JP Morgan]].<ref>Marion Dakers, ‘[http://www.cityam.com/news-and-analysis/heritage-oil-shares-surge-after-talk-takeover-interest-the-middle-east Heritage Oil shares surge after talk of takeover interest from the Middle East]’, “City AM”, 18 March 2011, accessed 10 July 2011</ref>
  
 
==People==
 
==People==
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*[[Mick Davis]], chief executive  
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*[[Mick Davis]], chief executive. Also heads the [[United Jewish Israel Appeal]].
 
*[[Trevor Reid]], chief financial officer
 
*[[Trevor Reid]], chief financial officer
 
*[[Santiago Zaldumbide]], executive director and Chief Executive of Xstrata Zinc
 
*[[Santiago Zaldumbide]], executive director and Chief Executive of Xstrata Zinc
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*[[John Bond|Sir John Bond]], chairman
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*[[John Bond|Sir John Bond]], chairman, former boss at [[HBSC]], then [[Vodafone]]
 
*[[David Rough]], Deputy Chairman and Senior Independent director
 
*[[David Rough]], Deputy Chairman and Senior Independent director
 
*[[Con Fauconnier|Dr Con Fauconnier]]
 
*[[Con Fauconnier|Dr Con Fauconnier]]
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*[[Aristotelis Mistakidis]]
 
*[[Aristotelis Mistakidis]]
 
*[[Tor Peterson]]
 
*[[Tor Peterson]]
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*[[Steve Robson|Sir Steve Robson CB]]
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*[[Steve Robson|Sir Steve Robson CB]], former UK second permanent secretary at [[HM Treasury]] and a non-executive director of the [[Royal Bank of Scotland]] until 2009
 
*[[Ian Strachan]]
 
*[[Ian Strachan]]
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In March 2012 Xstrata was ranked last in a [[Cranfield Business School]] survey of FTSE 100 companies by the number of women on its boards.<ref> Anna White, [http://www.telegraph.co.uk/finance/comment/citydiary/9142662/Trainer-talks-Turkey-with-millionaire-Kurt.html Sir John is just the man for Xtrata], 14 Mar 2012, acc 15 March 2012 </ref>
  
 
==PR and lobbyists==
 
==PR and lobbyists==
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*[[Regester Larkin]] in 2008 for 'reputation management' <ref>Regester Larkin [http://replay.web.archive.org/20081221140813/http://www.regesterlarkin.com/clients.html clients], Retrieved from the Internet archive of 21 December 2008 on 2 may 2011</ref>
 
*[[Regester Larkin]] in 2008 for 'reputation management' <ref>Regester Larkin [http://replay.web.archive.org/20081221140813/http://www.regesterlarkin.com/clients.html clients], Retrieved from the Internet archive of 21 December 2008 on 2 may 2011</ref>
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==Activities==
 
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A new tax havens database published in October 2011 by the anti-poverty charity ActionAid revealed that Xstrata had 55 subsidiaries in tax havens. <ref> ActionAid 'Addicted to tax havens', 11 October 2011, accessed same day </ref>
 
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==Affiliations==
 
==Affiliations==

Latest revision as of 12:50, 29 February 2016

Mining-alcans-60px.jpg This article is part of the Mining and Metals project of Spinwatch

Xstrata is a FTSE 100 Anglo-Swiss mining company, of which 34.5% is currently owned by mining giant Anglo American.[1] In 2011 its chief executive Mick Davis was ranked as the highest-earning CEO of the FTSE 100.[2]

Activities

Stratospheric executive pay and tax havens

The Directors' Pay Report 2011 by IDS revealed that Xstrata CEO Mick Davis earned £18,426,105 in the year till June 2011, making him the highest-earning FTSE 100 CEO of the year.[2]

A new tax havens database published in October 2011 by the anti-poverty charity ActionAid revealed that Xstrata has 55 subsidiaries in tax havens, 14% of its total. [3]

Falconbridge Acquisition

In 2006 Xstrata acquired 100 per cent of Falconbridge,[4] in a deal steered by Ian Hannam of JP Morgan.[5]

People

In March 2012 Xstrata was ranked last in a Cranfield Business School survey of FTSE 100 companies by the number of women on its boards.[6]

PR and lobbyists

Affiliations

Contact

Address:

Registered Office:
4th Floor 25/27 Haymarket
London, UK
SW1Y 4EN

Head Office:

Bahnhofstrasse 2, PO Box 102
Zug
6301
Switzerland

Website: xstrata.com/

Resources

Notes

  1. ↑ Alex MacDonald, Glencore lockups expire; may facilitate big deals, MarketWatch, 24 November 2011, accessed 1 December 2011
  2. ↑ 2.0 2.1 Directors' Pay Report 2011 (2011), IDS, London. See also: Stephen Foley, 'Business as usual: top directors get 49 per cent pay rise', The Independent, 28 October 2011, accessed 30 November 2011
  3. ↑ ActionAid 'Addicted to tax havens', 11 October 2011, accessed same day; FTSE 100 Tax Haven Tracker, Action Aid, accessed 1 November 2011
  4. ↑ News Release: Xstrata Completes Acquisition of Falconbridge', Xstrata, 2 November 2006, accessed 30 November 2011
  5. ↑ Marion Dakers, ‘Heritage Oil shares surge after talk of takeover interest from the Middle East’, “City AM”, 18 March 2011, accessed 10 July 2011
  6. ↑ Anna White, Sir John is just the man for Xtrata, 14 Mar 2012, acc 15 March 2012
  7. ↑ APPC Register Entry for 1 June 2011 to 31 August 2011
  8. ↑ APPC Register Entry for 1 December 2010 to 28 February 2011
  9. ↑ Regester Larkin clients, Retrieved from the Internet archive of 21 December 2008 on 2 may 2011
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