Glencore’s Billionaire Boss Picks His Look-a-Like Replacement

Glencore Plc named the head of its coal business, Gary Nagle, to take over as chief executive officer next year, when billionaire Ivan Glasenberg retires after almost two decades running the world’s biggest commodity trader.

“It’s time to hand over to a new generation and a new leader,” Glasenberg said during an investor call Friday. “We’ve decided that, over the next six months, I will be working closely with Gary Nagle, who will be taking over from me.”

Nagle, like Glasenberg, is South African and earned degrees in commerce and accounting from the University of the Witwatersrand. Also like ...