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Fortescue Metals Group (ASX:FMG) - Departing CEO, Elizabeth Gaines
Departing CEO, Elizabeth Gaines
Source: Fortescue Metals Group
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  • Fortescue Metals Group’s (FMG) CEO Elizabeth Gaines steps down from her role as CEO to become the company’s global green hydrogen brand ambassador
  • The iron ore giant now has the world’s largest portfolio of GH2, green ammonia, green iron ore, green iron and other green product developments
  • Ms Gaines has been with FMG for nine years and will remain as a non-executive director on the Fortescue board
  • She will assist the selection of a new CEO to lead the development of the diversified renewables and resources group
  • On the market this morning, FMG is down 1.04 per cent and is trading at $18.06 per share

Fortescue Metals Group’s (FMG) CEO Elizabeth Gaines will step down from her role and will become the company’s global green hydrogen brand ambassador.

Ms Gaines has been with the company for nine years and will remain as a non-executive director on the Fortescue board.

Over the past ten years, FMG has been investigating various solutions to global warming, the development of a major green, fully renewable hydrogen (GH2) initiative.

This research has resulted in the world’s largest portfolio of GH2, green ammonia, green iron ore, green iron and other green product developments.

Ms Gaines will assist the selection of a new CEO to lead the development of the diversified renewables and resources group.

Founder Andrew Forrest said the company has always benefited from the continuity of leadership from its experienced board of directors since inception.

“The search with Elizabeth, for a CEO and an even deeper management bench, is an enormous opportunity for a talented and visionary executive team, to continue the successful leadership of Fortescue, as we deliver on our strategy to diversify Fortescue to a renewable energy and resources company,” Dr Forrest said.

“Fortescue Future Industries (FFI) is making enormous progress and will support the
decarbonisation of Fortescue through the innovation and technological development of a green fleet and the supply of green energy. We are undergoing a significant transition, and I am delighted that with Elizabeth, the board is united in its vision and enthusiasm for the opportunity this presents.”

Mr Forrest has also thanked Ms Gaines in her roles as non-executive Director, Chief
Financial Officer, and Chief Executive Officer.

“Elizabeth is one of Australia’s truly inspiring leaders. We are grateful that she has accepted the critical role of ensuring the world understands that green hydrogen, green ammonia, green energy and all its products, are combined, the only practical implementable solution to global warming that can be delivered on a commercial, highly sustainable basis,” he added.

On the market this morning, FMG was down 1.04 per cent and is trading at $18.06 per share at 11:10 am AEDT.

FMG by the numbers
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