Mr Glasenberg - a towering figure who has run Glencore for close to 20 years - made several references to ushering in a new generation of leadership, but stopped short of announcing his retirement. The 63-year-old said: "As I have said, once the new generation is in place and ready to move on, it will also be time for me to move on." Only the third chief executive in the company's history, Mr Glasenberg is preparing to step down at some point this year, as Glencore faces simultaneous corruption investigations in the US and the UK that have forced it to accelerate succession plans.