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"The strategic rationale for combining Xstrata and Glencore remains highly compelling, " said Xstrata's chief executive Mick Davis.
BBC: Xstrata board backs Glencore merger
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Xstrata chief executive Mick Davis will head up the new firm, with Mr Glasenberg becoming deputy chief executive.
BBC: Glencore and Xstrata announce $90bn merger deal
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Mick Davis is one of 3, 500 elderly people in Swindon who have their care paid for by the local authority.
BBC: Elderly people in Swindon
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That ended an arrangement that had his long-term associate and Xstrata managing director, Mick Davis, becoming CEO of the merged outfit.
FORBES: Ivan Glasenberg's Play For Xstrata Forces Him From His Cone of Secrecy
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Under the new terms, Xstrata boss Mick Davis would head the combined group for six months before making way for Glencore's Ivan Glasenberg.
BBC: Glencore confirms new Xstrata bid terms
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Glasenberg also offered Xstrata CEO Mick Davis the top job for six months, after which he will have to cede to the South African billionaire.
FORBES: Glencore's Billionaire CEO Glasenberg Raises Xstrata Bid To Woo The Qataris
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Previously, Xstrata head Mick Davis would have been CEO.
FORBES: Glencore Sweetens Bid To Save Xstrata Deal
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Glencore has proposed that its chief executive Ivan Glasenberg should lead the merged entity instead of Xstrata's boss Mick Davis, who would have been the new chief executive under the old terms.
BBC: Glencore tables fresh Xstrata bid
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Mr Stanojevic added that there were some big names in the business who could be in line to take over, including the current boss of mining giant Xstrata, Mick Davis, who will leave his post after it completes its merger with Glencore.
BBC: Cynthia Carroll
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"Mick was very business-oriented, " Davis said.
CNN: STORY HIGHLIGHTS