Join our daily newsletter At The Bell to receive exclusive market insights
- Fortescue Metals Group (FMG) has restructured its leadership team in a bid to deliver on its global green energy business strategy
- Dr Mark Hutchinson, former President and CEO of General Electric (GE) Europe, will join Fortescue Future Industries (FFI) in early July 2022
- He will initially take on the role of Director of Projects, before assuming the role of CEO of FFI by the end of 2022
- Dr Andrew Forrest will resume the role of Executive Chairman of FMG to oversee the iron ore business for an interim period when Elizabeth Gaines concludes her tenure in August
- Shares in Fortescue Metals were up 1.39 per cent this morning to $19.66 as of 10:32 am AEST
Fortescue Metals Group (FMG) has restructured its leadership team in a bid to deliver on its global strategy of becoming “green” by 2030.
The company has appointed Dr Mark Hutchinson, former President and CEO of General Electric (GE) Europe, who will join Fortescue Future Industries (FFI) in early July 2022.
He will initially take on the role of Director of Projects, before assuming the role of CEO of FFI by the end of 2022.
Dr Hutchinson said joining FFI was the opportunity of his lifetime, both to make a difference for humanity, while also bringing great value to Fortescue shareholders.
“We must urgently reduce emissions now and at scale,” he said.
“The green industrial revolution is well underway globally and … as a result of this revolution, we will see an explosion in manufacturing and green energy jobs worldwide with great benefits for local communities.
“Delivering FFI’s global portfolio of green projects to meet our customer demands will be my primary focus, whilst leading this incredible global team of talented people driving forward change through hard work and determination.”
Current FFI CEO, Julie Shuttleworth, will continue in her role during the transition process and will then move to a senior executive leadership role at FFI.
Meanwhile, Dr Andrew Forrest will resume the role of Executive Chairman of FMG, specifically overseeing the iron ore business for an interim period when Elizabeth Gaines concludes her tenure in August 2022, who will remain on the Board as Non-Executive Director.
Dr Forrest will now drive the company’s mission to turn Fortescue green by 2030, ensuring the first mover advantage created over the past several years is fully realised for shareholders.
FMG has also made further announcements regarding new leadership which will assist Dr Hutchinson and Dr Forrest in helping turn the company green.
The iron ore company has appointed Li Yifei, who currently serves on the board of BlackRock China and is a Global Trustee of the Rockerfeller Foundation, as a Fortescue Board Director.
Her appointment will see the Fortescue Board have one of the highest levels of female representation on an ASX-listed board.
Andrew Vesey, former CEO of AGL Energy, will be appointed as FFI’s Head of Energy
Transition Projects.
Dr Jalal Bagherli will be appointed Co-Chair of Williams Advanced Engineering (WAE), which Fortescue acquired in March 2022, along with Mark Barnaba, the Deputy Chairman of Fortescue.
Christiaan Heyning has been appointed as Head of Decarbonisation and Reserve Bank of Australia Deputy Governor Dr Guy Debelle as Chief Financial Officer of FFI, who will commence in June 2022.
FFI’s current Director of Projects, Gordon Cowe, will take on the new role of Head of Projects Development.
Both the CEO of Fortescue and the CEO of FFI will be reporting directly to the Board.
Shares in Fortescue Metals were up 1.39 per cent this morning to $19.66 as of 10:32 am AEST.
