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
- 13:12 Deep-space communication base coming to Cornwall
- 13:12 Hollywood actor flies South Shields girl over to LA after they find...
- 13:12 No 10 defends PM after Stormzy's Grenfell freestyle at Brits
- 13:11 Woman hits out at McDonald's over treatment of homeless men in Bury...
- 13:11 Hollins Grundy pupils start 5,024 mile walk to Beijing
- 13:10 Sex attacker from Sutton Coldfield jailed for assaulting five women
- 13:10 New images released of Birmingham landmark restoration
- 13:10 Boxing: Ryan Kelly drums out a warning to title rival!
- 13:10 Leeds United provide update on the plans for a new club badge
- 13:10 Fishergate Bollard returns home
- 13:10 Privatising county NHS contract 'will only save 0.07%'
- 13:09 What is a ‘Meet me at McDonald’s’ haircut?
- 13:09 What is a polar vortex and when will the ‘Beast from the East’ hit...
- 13:09 Worksop veteran George celebrates 107th birthday
- 13:08 Drug dealers who peddled 'misery' from their luxury cars were...
- 13:08 Banned driver spared jail after leading police on 70mph chase
- 13:08 Sunderland City Council deemed 'inadequate' and warned over...
- 13:07 Barrow teen admits assaulting police officer
- 13:07 This Leeds charity is giving inner-city girls a voice - and it...
- 13:07 Privatising county NHS contract 'will only save 0.07%'
- 13:07 Barrow drink driver banned after being double legal limit
- 13:07 ‘Even after I was sectioned, no-one really knew quite what was...
- 13:06 NHS trust 'banking on people being too ill to object to changes' to...
- 13:06 French man who kept porn on work computer loses privacy appeal
- 13:06 'I beg you, stop': plea from mother who lost two sons to knife crime
- 13:06 Chester council steps in after wall collapses in Liverpool Road
- 13:05 Fresh police appeal after Spalding newsagents’ break-in
- 13:02 Phillip Schofield appears worse for wear as he downs tequila shots...
- 13:02 North Korea nuclear war threats to resume IN DAYS after Winter...
- 13:04 Councillor who backed ‘Bring Back the Golliwog’ campaign resigns