Andrew Forrest says the miner needs “constant alignment of interest” in the company’s green ambitions as he addressed the departures of three high-profile executives from the company over the past week.
Fortescue founder Andrew Forrest says the clutch of executive-level departures at the iron ore miner is linked to the need to focus on its break into the green-energy industry.
last week, including former Reserve Bank of Australia deputy governor Guy Debelle. Fiona Hick, chief executive officer of the iron ore division, and Christine Morris, the chief financial officer for metals, have also left.Credit:Fortescue, the world’s fourth-largest iron ore miner, last month reported an 11 per cent drop in profits, and investors are bracing for a sharp increase in spending as Forrest spearheads a move.
Forrest also hinted at further potential departures, as he referred back to earlier plans to appoint a dozen new executives to facilitate the push into green energy, which will include investments in geothermal power, hydrogen production and the decarbonisation of the miner’s vehicle fleet.“If you talk about the C-suite, we’re nowhere near 12, and we’re upgrading all the time,” he said.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘They drive very hard’: Another executive joins Andrew Forrest exodusRichard Harris has left the film and television production and funding arm of Minderoo Foundation, following a string of other departures from Forrest’s businesses.
Read more »
‘They drive very hard’: Another executive joins Andrew Forrest exodusRichard Harris has left the film and television production and funding arm of Minderoo Foundation, following a string of other departures from Forrest’s businesses.
Read more »
Forrest empire exodus continues with two more CEOsFormer Mincor chief executive Gabrielle Iwanow and Joost Heymeijer, the boss of the Forrest family’s hospitality and lifestyle arm, have joined the leadership exodus.
Read more »
Forrest’s comments on Hick ‘inappropriate’Andrew Forrest’s explanation for Fortescue Metals Group CEO Fiona Hick’s departure as her deciding not to ‘get on the bus’ with his green energy vision were disappointing and showed a lack of respect, two female leaders say.
Read more »
Prince Andrew twist: Disgraced royal spotted riding at BalmoralPrince Andrew has been photographed enjoying a horse ride on the Balmoral Estate as speculation grows that the disgraced royal is working his way back into the family’s good graces.
Read more »
Qantas has become an ‘emblem of division’ under Alan Joyce: Andrew BoltSky News host Andrew Bolt claims Qantas no longer represents all Australians and has instead become an “emblem of division” under outgoing CEO Alan Joyce. “There is a rule that when you play politics, you immediately alienate everyone on the other side - for a business, it's smart and usually safer just to stick to that business,” he said. “Joyce didn't do that; Qantas became his soapbox.”
Read more »