Fortescue says investors welcomed decisive moves on executives
Fortescue Metals Group, dealing with a string of high-level departures that has raised questions over plans to transform the group into a green-energy powerhouse, said on Tuesday that investors welcomed a swift resolution.
Less than a month ago, three high profile executives left Fortescue in one week, including former Reserve Bank of Australia deputy governor Guy Debelle and Fiona Hick, head of the metals division, prompting a debate over governance that has dominated discussions around post-earnings meetings with investors.
“We’ve talked about the transition of the leadership, but once we’re through that, it’s all about how the business is going,” Mark Hutchinson, CEO of Fortescue Energy, said in an interview with Bloomberg News in New York.
Hutchinson, echoing comments by billionaire founder Andrew Forrest, said Hick was “not aligned”, and the company moved swiftly in response.
“The response from investors was quite positive. They understood that if you have got something which doesn’t work, make the decision and move on — rather than let it fester.”
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation