Gunvor owner cuts stake as staff buy into growth strategy

Gunvor owner cuts stake as staff buy into growth strategy
 

The co-founder of Gunvor, Torbjorn Tornqvist, is diluting his stake in the company to allow employees to own more than a third of the fast-growing trading house by year-end to help to retain and recruit talent as it pursues its global expansion strategy.
Gunvor has been diversifying away from Russia, where it was created at the turn of the millennium by Swedish citizen Tornqvist and Russian businessman Gennady Timchenko, and changing its ownership structure to resemble other global trading houses such as Vitol and Trafigura.
Tornqvist told the Reuters Commodities Summit in London that he... read more

 
11 October 2016 in Business, Views: 38
Source: Reuters
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