Xstrata boss in line for £8m payout

Press Association

The boss of Xstrata is reportedly in line to receive a pay-off of at least £8 million and receive company shares worth up to £30 million if commodities trader Glencore succeeds in its bid for the mining giant.

Xstrata chief executive Mick Davis is set for the payout if Glencore boss Ivan Glasenberg pushes through his revamped takeover bid for the miner unveiled on Friday, the Sunday Telegraph said.