LONDON—Tony Hayward, who stepped down leading BP PLC in the wake of the fatal Deepwater Horizon oil spill in the Gulf of Mexico, is retiring as chairman of Glencore PLC, the commodities giant he presided over for eight years.
Mr. Hayward’s departure was expected and comes after his tenure had been extended beyond that typical of a U.K. chairperson, as Glencore’s board looked for a new CEO and managed a succession of regulatory probes.
The retirement of Mr. Hayward completes a changing of the guard at Glencore. Longtime Chief Executive Ivan Glasenberg stepped down last week.
Mr. Hayward will be succeeded at the end of the month by veteran mining executive Kalidas Madhavpeddi, Glencore said Monday.
Mr. Hayward oversaw Glencore’s response to a series of major international regulatory investigations that have bedeviled the commodities trading and mining group, putting pressure on its share price.
