The world’s largest oil trader Vitol Group has replaced its leader
Vitol Group is the largest independent global trader. In the market, the Swiss-Netherlands company has proven itself to be dynamic, but stable. There hasn’t been news of personnel changes, scandals or a sudden change of tack in the history of Vitol Group. Today, the company has surprised the market with announcing the decision to replace its CEO. Russell Hardy, who has been working for the company since the early 1990s, has taken office, which previously was held by Ian Taylor. Mr. Hardy is not a novice in the company; he has been working in the Vitol Group since the early 90’s.
The Financial Times notes that throughout Mr. Taylor’s reign of thirty years, a small Dutch fuel trader has grown into a recognized global leader with an estimated value of $ 20 billion. Mr. Taylor did not retire; he took the post of Chairman of the Board of Directors.
In 1993, his follower Russell Hardy resigned from BP and started his career in the company. Mr. Hardy’s total length of work in the oil and gas industry is about 30 years. He has been part of the executive committee of Vitol for about 10 years. A talented leader has been working as Executive Director of the EMEA Region for almost a year (by the way, the post was created specifically for Mr. Hardy).
At present, the trading volume of the oil trader is estimated at seven million barrels of oil per day. Experts believe that the staffing solution will affect the stock quotes of the company.
The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade