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Trafigura M&A head is latest top executive to retire from trader

21st May 2024

By: Bloomberg

  

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Trafigura Group head of mergers and acquisitions Jesus Fernandez is leaving, in the latest senior departure from the commodity trading giant.

Fernandez will retire after around 20 years at the firm, according to people familiar with the matter, who asked not to be identified because the information is not yet public. He will be succeeded by Patrick Burke, another longtime Trafigura dealmaker.

Fernandez’s exit extends a period of upheaval in the top ranks of Trafigura, one of the world’s biggest traders of oil, gas and metals. The company has seen a string of departures over the past 12 months, and implemented a major reshuffle last September before announcing in April that two of its most senior executives — executive director Jose Larocca and CFO Christophe Salmon — will retire this year.

Fernandez, who was removed from the management board as part of the shakeup last year, was a key part of Trafigura’s transformation from an asset-light commodity trading house into a raw materials juggernaut that runs one of the world’s biggest zinc and lead smelting businesses and is a major retailer of fuel across Africa and Latin America.

Edited by Bloomberg

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