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Trafigura’s Head of Oil Retires to Pursue Equestrian Passion Amidst Scandal

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José Larocca, a prominent figure in global commodities trading, has announced his retirement from Olympic show jumping, marking the end of an era in Trafigura Group’s oil division. Larocca’s departure, revealed on April 5, follows an international scandal, yet to be linked to his personal conduct.

Larocca, aged 55, held a pivotal role in Trafigura’s oil business, contributing significantly to the company’s remarkable profits exceeding $7 billion. Despite being among its major shareholders, Trafigura faced legal repercussions, pleading guilty to corruption charges in the U.S. for alleged bribery involving Brazil’s Petrobras and facing similar accusations in Switzerland concerning an Angolan oil company.

While Larocca has not faced charges directly related to these allegations, his resignation coincides with heightened scrutiny surrounding Trafigura’s operations. In a statement to colleagues, Larocca emphasized that his departure had been under discussion with Trafigura’s board independently of the legal proceedings.

Transitioning from the world of commodities trading, Larocca intends to dedicate his time to his longstanding passion for equestrianism. With an illustrious career spanning four Olympic Games, he aspires to compete in the upcoming Paris Games, representing Argentina in the discipline of show jumping. Notably, Larocca achieved his best Olympic result in Rio 2016, where Argentina secured 10th place in the team competition.

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