Mick Davis

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Sir Mick Davis
Born Michael Lawrence Davis
(1958-02-15) 15 February 1958 (age 59)
South Africa
Residence London
Nationality British / South African
Education Theodor Herzl School
Alma mater Rhodes University
Occupation Businessman
Years active 1979–present
Salary $5,396,659
Title Chief executive of Xstrata plc
Term 2001–2013
Successor Ivan Glasenberg
Spouse(s) Barbara Davis
Children 3

Sir Michael Lawrence "Mick" Davis (born 15 February 1958) is a South African/British businessman. He served as the Chief Executive (CEO) of Xstrata plc, an Anglo-Swiss multinational mining company, until its merger with Glencore in 2013. After leaving Xstrata, he formed the mining venture, X2 Resources.[1]

Early life and education[edit]

Mick Davis was born to a South African Jewish family[2] on 15 February 1958. He was educated at Theodor Herzl School, Port Elizabeth, South Africa. He has a bachelor of commerce degree from Rhodes University and is a qualified accountant.[3]

Career[edit]

Davis was a senior manager with the accountants Peat Marwick Mitchell & Co from 1980–1986. Davis was an executive director of the South African state-owned Eskom, one of the world’s largest electricity utilities, before joining Gencor Ltd in 1994. He served as executive chairman of Ingwe Coal Corporation Ltd from 1995, until appointed in July 1997 as Chief Financial Officer and an executive director of Billiton plc. He served as Chief Executive of Xstrata from 2001[4] but left in 2013, after the company was taken over by Glencore. He subsequently formed the mining venture, X2 Resources, with former colleagues including former Xstrata finance director Trevor Reid and executives Thras Moraitis, Andrew Latham, Ian Pearce and Benny Levene.[1][5]

Mick has extensive capital markets and corporate transactions experience. During his career, he has raised almost US$40 billion from global capital markets and successfully completed over US$120 billion of corporate transactions. Some of his successes are the creation of the Ingwe Coal Corporation in South Africa; the listing of Billiton on the London Stock Exchange;[6] the merger of BHP and Billiton into the largest diversified mining company in the world;[7] the initial public offering of Xstrata plc on the London Stock Exchange in 2002[8] and Xstrata’s subsequent acquisitions of MIM Holdings[9] and Falconbridge Limited.,[10] amongst others and most recently the successful merger of Xstrata and Glencore.[11] Early in 2015 he and his partners successfully closed the X2 Resources fund after raising almost US$6 billion from a combination of sovereign wealth, pension and private equity funds.[12]

Charitable work[edit]

Sir Mick is President of the Council of Members and Chairman of the Board of Trustees of the Jewish Leadership Council of the United Kingdom,[13] the umbrella body of the largest Jewish charities and Institutions in the UK responsible for the strategic imperatives of UK Jewry, and is Chairman of the Holocaust Memorial Commission of the United Kingdom.[14] Mick is a trustee of the Foundation and Friends of the Royal Botanic Gardens,[15] Kew, which supports the work of the Royal Botanic Gardens, Kew. Mick is also a member of the Brookings International Advisory Council[16] and a trustee of the Institute of National Security Studies.[17] In February 2016, Mick was appointed Co-Treasurer of the Conservative Party.

Personal life[edit]

His wife Barbara is a solicitor.[15] They live in London with their three children, Sarah, Ronit and Eitan.[18][19]

In the 2015 Queen's Birthday Honours, he was appointed a Knight Bachelor 'for services to Holocaust Commemoration and Education', and therefore granted the title 'sir'.[20]

He holds an Honorary Doctorate from Bar Ilan University.

References[edit]

  1. ^ a b "X2 Resources secures a further $1bn of funds to expand mining business". Mining Technology. 16 October 2014. Retrieved 14 May 2015. 
  2. ^ Jewish Chronicle: "JC Power 100 2014 - Mick Davis" September 10, 2014
  3. ^ "Mick Davis". Who's Who South Africa. Retrieved 15 November 2012. 
  4. ^ Power, Helen; Helia Ebrahimi, Helia; Rowley, Emma (8 September 2012). "The Glencore-Xstrata war has turned friends into foes". The Daily Telegraph. Retrieved 3 September 2014. 
  5. ^ "The Team  :: x2 Resources". x2resources.com. Retrieved 2016-03-31. 
  6. ^ "Gencor to raise $1bn through Billiton split". The Independent. Retrieved 2016-03-31. 
  7. ^ Parkinson, By Gary. "Billiton and BHP agree merger plans". Telegraph.co.uk. Retrieved 2016-03-31. 
  8. ^ Strydom, By Martin. "Xstrata IPO could raise £850m for coal deal". Telegraph.co.uk. Retrieved 2016-03-31. 
  9. ^ Batt, By Carolyn. "Xstrata to acquire MIM for £1.9bn". Telegraph.co.uk. Retrieved 2016-03-31. 
  10. ^ "Xstrata wins Falconbridge battle". BBC. 2006-08-15. Retrieved 2016-03-31. 
  11. ^ editor, Robert PestonBusiness; News, B. B. C. "Glencore and Xstrata announce $90bn merger deal". BBC News. Retrieved 2016-03-31. 
  12. ^ "Mick Davies’ X2 Resources raises $5.6 billion". MINING.com. Retrieved 2016-03-31. 
  13. ^ "Sir Mick Davis | The Jewish Leadership Council". www.thejlc.org. Retrieved 2016-03-31. 
  14. ^ "Prime Minister’s Holocaust Commission Report - Publications - GOV.UK". www.gov.uk. Retrieved 2016-03-31. 
  15. ^ a b "Kew Foundation appoints new Trustees to the board" (Press release). Royal Botanic Gardens Kew. 15 May 2009. Retrieved 3 September 2014. 
  16. ^ "International Advisory Council". The Brookings Institution. Retrieved 2016-03-31. 
  17. ^ INSS. "The Institute for National Security Studies". INSS. Retrieved 31 March 2016. 
  18. ^ "Jewish Leadership Council:Mick Davis". Jewish Leadership Council. Retrieved 15 November 2012. 
  19. ^ Wachman, Richard (14 February 2010). "Xstrata's big boss with bigger ambition". The Observer. Retrieved 3 September 2014. 
  20. ^ "No. 61256". The London Gazette (Supplement). 13 June 2015. p. B2.