The newspapers have been full of the issues around the listing and the lack of acceptable corporate governance within the organisation.

Governance issues at Board level have had an impact on investor perceptions, they managed to get a number of actions wrong and managed to compound them thereafter.  See the numerous links further down in the article.

Even an organisation this big can be impacted by bad governance attitude and behaviour.  See article that indicates the EIB has frozen lending due to governance concerns. 

Our experience shows that there is not often enough emphasis placed on communication with stakeholders, particularly at a time of crisis.  This was evidenced by a number of high profile media and social media debacles in 2010.  Glencore has understood the importance of Investor Relations and has appointed someone familiar with the investing public, Paul Smith as IR Manager

What is interesting in this case is the size of the business and the nature of corporate governance issues that has plagued the company pre and post the flotation and the direct impact that has had on shareholder value.