A lot of deals are done or not done because chief executives are not fully aligned to shareholders.
From Ivan Glasenberg
We want people who work for us to be entrepreneurs. We like them to look at ideas. We like them to chase ideas. We like them to not be what I call a caretaker of an asset.
Why should I build an asset when I can buy it more cheaply than you can build it?
What are we focused on? Return on equity. We don't need these great big tier one assets. I'm very happy with getting tier two, tier three assets; that's what Glencore has been good at.
I've never opened a glass of champagne on any acquisition. Bankers do that.
It's easy to buy. Prove that you bought at the right time and the right price.
I'm a CEO of a public company. You have to show decorum.
We always look at opportunities. We are not aggressively looking to buy something.
Many people may say that luck is important, but I think you create your own luck by working hard to ensure you don't miss opportunities.
I observed a man sourcing candle wax from South America and selling it to Japan. I thought: 'That's unbelievable. Talking on the phone in his office, that man made money moving candle wax from one country to another.' It really interested me.
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