https://www.miningweekly.com

Freeport appoints two Ichan associates to board

7th October 2015

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

Font size: - +

TORONTO (miningweekly.com) – A day after US diversified miner Freeport-McMoRan announced a board shakeup through which it had reduced the number of directors to 9 from 16, the Phoenix, Arizona-based company revealed that it had appointed two associates of billionaire investor Carl Icahn to its board, after reaching an agreement with the activist shareholder.

Freeport disclosed on Wednesday that Andrew Langham and Courtney Mather had been appointed to the board, which now comprised 11 directors – nine independent directors and two executive directors.

Langham had been general counsel of Icahn Enterprises since January and was previously assistant general counsel since 2005. Mather had served as a MD of Icahn Capital since April 2014.

Icahn, together with his affiliates, owned about 100-million Freeport shares, representing about 8.8% of the company’s outstanding shares.

Freeport on Tuesday revealed that it was reviewing strategic options for its oil and gas business, including a spin-off or a joint venture.

The separation of the oil and gas business would leave Freeport with its mainly copper and gold mining assets – about 60% of Freeport's 2014 revenue came from copper, while 20% was derived from its oil and gas business segment.

The energy business included onshore and offshore assets in the deep-water portion of the Gulf of Mexico, in California, Louisiana and Wyoming.

Freeport was considering an initial public offering (IPO) for the oil and gas business, which filed for an IPO in June.

Edited by Tracy Hancock
Creamer Media Contributing Editor

Comments

Showroom

VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 
Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.071 0.109s - 90pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: