Former BP Head Tony Hayward Named Glencore Xstrata Chairman

Glencore Xstrata has named former BP CEO Tony Hayward as the FTSE 100 commodity trading and mining group's permanent chairman with immediate effect.

Hayward, who replaces Sir John Bond, has been a member of the Glencore board since April 2011 and was appointed interim chairman in May 2013.

"Over the last twelve months, Tony has provided exemplary leadership of the Board and proved himself to be the outstanding candidate to take on the role permanently," Peter Grauer, chairman of Glencore's nomination committee, said in a statement.

"We continue to look forward to harnessing his in depth knowledge of the resources industry and of listed company governance to underpin the mandate given to him as chairman to lead the Board in helping to deliver long term, sustainable returns for shareholders."

British-born Hayward served BP as CEO from 2007 to 2010 and left the oil and gas major in the aftermath of the Gulf of Mexico oil spill.

In 2010, the Deepwater Horizon oil rig exploded in the BP-owned Macondo Prospect, which spilled oil into the surrounding Gulf of Mexico waters over a three-month period.

Eleven workers on the rig died in the explosion and environmental devastation slicked its way through the waters, poisoning marine life as well as a number of clean-up workers and Gulf of Mexico residents.

Hayward will step down from his current role as CEO of Genel Energy within a year or two as a result of the new appointment, the Daily Telegraph reported earlier.

Sir John resigned from the post amid intense investor pressure during Glencore's $65bn (£38.3bn) takeover of Xstrata.

The search process, led by Grauer, had shortlisted a number of candidates including Roger Agnelli, the former boss of Brazilian miner Vale, and Sir Frank Chapman, the former BG Group CEO, according to the British newspaper.

The appointment of a full-time chairman comes as shareholders insisted on the matter to counter the influence of CEO Ivan Glasenberg on the company.

Glasenberg holds an 8.3% stake in Glencore Xstrata. He earlier promised the appointment of a permanent chairman by the company's annual general meeting scheduled for 20 May.