"QH strongly believes that retaining Xstratas operational management is of critical importance to the successful and stable integration of the two companies, the completion of key projects within agreed timescales and to maximising the benefits of the merger," it said. "However, QH is conscious of the sensitivities concerning governance issues in the UK and does not feel it appropriate to influence the outcome either way." Glencore, based in the canton of Baar in central Switzerland, had offered to pay "appropriate" bonuses to Xstrata managers and let Xstrata chief executive Mick Davis head the new commodities behemoth for six months, before making way for Glencore chief Ivan Glasenberg. Commodities trader Glencore and miner Xstrata formalised in February the highly anticipated deal to create a raw materials juggernaut with a market capitalization of $90 billion.