Glencore Shakes Up Trading Team With Head of Coal to Exit

The head of Glencore Plc’s huge coal-trading operation is leaving in the biggest shake-up of the trading unit in years, at a time when the commodity giant is struggling to revive its share price.

The company, which traces its roots to the legendary commodity trader Marc Rich, has been reviewing its mining and smelting assets and recently unveiled a $1 billion cost cutting target. On Wednesday, it disappointed investors with weak results for the first half of the year that included one of the worst performances from its energy- and coal-trading unit on record.