Report: Ex-BP CEO Hayward to become Glencore chairman

|By:, SA News Editor

Former BP CEO Tony Hayward will be named chairman of Glencore Xstrata (GLCNF, GLNCY) following a year-long search to replace Sir John Bond, the Daily Telegraph reports.

Hayward is likely to step down from his position as CEO of Genel Energy (GEGYF) within a year or two, the report says.

Hayward, who was appointed interim chairman of Glencore last May, was CEO of BP from 2007-10 and left in the aftermath of the Deepwater Horizon oil spill.