CEO-elect Elizabeth Gaines
JOHANNESBURG (miningweekly.com) – Iron-ore miner Fortescue Metals has rearranged its management to form a core leadership team, led by new CEO Elizabeth Gaines.
Gaines is moving from her position as CFO and is replacing Nev Power, who in September announced that he would step down early next year.
“It is an aversion to being the smartest person in the room, her obvious and effective collegiality and ability to communicate at all levels of both the organisation and the community that led to the board’s decision to select Elizabeth over an outstanding international field of CEO applicants,” chairperson Andrew Forrest said on Thursday.
Gaines, who is only Fortescue’s third CEO, after Forrest and Power, will be replaced by Ian Wells, who is moving from his current role as group manager for corporate finance.
Fortescue named Greg Lilleyman its COO. He most recently held the position of director of operations.
The group also established a new role of deputy CEO, which will be filled by the general manager of Fortescue’s Solomon operations, Julie Shuttleworth.
Forrest said that Fortecue’s shift from a traditional leadership focus to a new core leadership team, with active board support, came as the group was working towards a target of shifting the majority of its production to 60%-plus iron content, which would see it compete head-to-head in the higher grade markets. This target would be achieved through the Firetail replacement project.