Trafigura Group Pte Ltd has announced that Richard Holtum will become the company’s CEO effective 1 January 2025. Holtum will also join the Trafigura board of directors starting 1 October 2024.
Jeremy Weir, currently executive chairman and CEO, will step down from his executive duties on 1 January 2025, transitioning to the role of chairman of the Trafigura Group.
Pictured from left to right, Richard Holtum and Jeremy Weir
Sipko Schat, Independent non-executive director of the board, commented: “The board of directors unanimously selected Richard Holtum to lead Trafigura. Richard has been instrumental in developing high-performing teams and has significantly strengthened Trafigura’s gas, power, and renewables business, which has become a key growth area for the group. His vision, international experience, and expertise will guide Trafigura through its next phase of evolution.”
Schat also praised Jeremy Weir’s leadership over the past decade, noting his role in driving Trafigura’s exceptional growth, diversification, and financial stability, particularly through turbulent market conditions. On behalf of Trafigura’s global workforce and the Board, he thanked Weir for his dedication and leadership and expressed appreciation for his continued commitment as Chairman.
Jeremy Weir remarked: “Today’s announcement concludes a nearly three-year succession planning process led by the Board. Richard is the ideal candidate to lead Trafigura’s next generation of leadership, and he will have my full support as he transitions into the CEO role. I look forward to continuing to lead the board as chairman.”
Richard Holtum expressed his gratitude, stating: “I am deeply honoured by the trust placed in me to lead Trafigura’s talented team. Trafigura is a global leader in the commodities sector, playing a crucial role in responsibly supplying the world with energy and raw materials. I am excited to help the Group realise its potential for further growth across all commodities.”
As part of the leadership transition, Holtum will pass on his current responsibilities as global head of gas, power, and renewables to Igor Marin, head of power trading, effective 1 October 2024.
For more information visit www.trafigura.com
