A lot of deals are done or not done because chief executives are not fully aligned to shareholders. Ivan Glasenberg More Quotes by Ivan Glasenberg More Quotes From Ivan Glasenberg The world was bearish in 2003, and then suddenly the big kicker came. We had weak commodity prices and within two, three months, suddenly the market turned. Ivan Glasenberg company-news The capital invested by commodity producers over the past decade has dwarfed returns to shareholders, many commodities now face near-term oversupply and unsustainable returns, despite robust demand. Ivan Glasenberg company-news (Commodity demand is) difficult to call at the moment with what we see in China, that's the one we are all struggling to read, demand in China. Ivan Glasenberg energy We will pull back our own production if necessary. Keep it in the ground, you can dig it out anytime. Ivan Glasenberg energy We don't want to oversupply and cannibalise our own business, if we do generate cash and we don't find better ways to deploy it, we are owner-managers and we are happy to pay back some money to ourselves. Ivan Glasenberg energy It's been said I don't like iron ore. (But) sure, i don't mind iron ore if we can get an iron ore asset at the right price. Ivan Glasenberg energy We don't want to oversupply and cannibalize our own business, we will continue our disciplined approach to capital allocation ... This will provide us with numerous options for delivering ongoing value for shareholders. Ivan Glasenberg energy I'm a CEO of a public company. You have to show decorum. Ivan Glasenberg ceo show you company I stopped focusing on people being different, and I started treating everyone the same way. Ivan Glasenberg everyone being-different people way You're doing a major merger, you got to hope you didn't get it wrong. That's the view of any CEO. Ivan Glasenberg view doing you hope When the opportunities come, we may not want to buy another nickel asset, but if something comes cheap enough, we're all about return on equity. Ivan Glasenberg opportunities something enough want I've said I will be CEO as long as my colleagues want me. Ivan Glasenberg will me colleagues long When we first invested in Colombia, we were buying a lot of coal from Colombia. We were dealing with them daily. I knew their guys at the port, I knew their guys at the mine, I had a feel of the country. Ivan Glasenberg mine daily feel country We're all shareholders. These guys below me, they see the CEO taking it easy, it's their money. Ivan Glasenberg see me money easy I thought if we could put our hard-working culture as traders into the asset management, it will be a great combination, and we did do that. Ivan Glasenberg thought great management culture You want to be a trader, come be a trader. The door's open. You want to travel six days a week, you want to travel the world, the door's open. Ivan Glasenberg door you world travel We work. You don't come here to take life easy. And we all got rich from it, so, you know, there's a benefit from it. Ivan Glasenberg you rich work life We want people who work for us to be entrepreneurs. We like them to look at ideas. We like them to chase ideas. We like them to not be what I call a caretaker of an asset. Ivan Glasenberg look work people ideas Why should I build an asset when I can buy it more cheaply than you can build it? Ivan Glasenberg why more you i-can What are we focused on? Return on equity. We don't need these great big tier one assets. I'm very happy with getting tier two, tier three assets; that's what Glencore has been good at. Ivan Glasenberg great good focused happy
