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LNG trader Trafigura has appointed Richard Holtum as its new chief executive officer, effective January 1, 2025.
Holtum will join the Trafigura board of directors from October 1, 2024.
He will replace Trafigura’s executive chairman and CEO, Jeremy Weir, who will step down from his executive responsibilities and will become chairman of the group.
As part of the leadership transition, Holtum will hand over his responsibilities as Trafigura’s global head of gas, power and renewables to Igor Marin, currently head of power Ttading, with effect from October 1, 2024, Trafigura said.
Holtum was appointed global head of gas and power in 2022, with responsibility for building Trafigura’s presence in the fast-evolving gas, power and carbon markets.
Also, his role was expanded to include responsibility for renewables in 2023.
Holtum joined Trafigura’s LNG team in 2014 and became global head of LNG and gas in 2019, playing a “significant role” in growing the company’s integrated LNG and natural gas trading activity into a global business, the company said.
Trafigura’s LNG volumes dropped 13.8 percent in the fiscal year ending September 30, 2023, while the company’s profit rose.
LNG volumes declined to 11.2 million tonnes compared to 13 million tonnes during the same period during the year before, which also declined from the previous year.
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