A series of disastrous zinc trades by Marc Rich nearly bankrupts his company, and so he is eventually pushed out in 1993, with his controlling stake bought back by management. Seeking to distance themselves from Rich, the new management rename the company Glencore.1 The modern Glencore era has begun.
1 Oliver Williams, “NS business profile: Marc Rich, Glencore’s fugitive founder,” New Statesman, October 10, 2012, https://www.newstatesman.com/politics/2012/10/ns-business-profile-marc-rich-glencores-fugitive-founder