The fact is that this downturn is not going to last and even Mick (Mick Davis, outgoing CEO of Xstrata) is figuring out how to position himself for the recovery.
I remember back when I had a real job sitting in a room with Mick and a bunch of angry shareholders, and someone (a fund manager) asked him to apologize for issues from 2008. He was defiant and just laid into the poor guy. He was right and the fund manager was wrong.
The fact that Mick was able to build Xstrata even with Glencore breathing down his neck means he really is the real deal. I am shocked that Anglo did not embrace him as he could’ve done wonders with the company. The man has vision, an ability to deliver, and does not care about who he has to go through for the prize.
The question is: does he have the energy to do it again, or will he focus on changing some other part of the world? Either way, I am rooting for him and I would never bet against him.
Some people have that spark of energy and he is one of them.