PERTH (miningweekly.com) – Iron-ore major Fortescue Metals on Friday announced that CEO Elizabeth Gaines would be stepping aside as the company transitions from a pure resources company to a vertically-integrated green energy and resources group.

Gaines will assist with the selection of a new CEO to lead the development of the diversified renewables and resources company, and will transition from the CEO role.

She has been invited to continue as a nonexecutive director of the company, and as Fortescue’s global green hydrogen brand ambassador, continuing her nine-year membership of the Fortescue board.

An extensive global search has now been launched.

“The search with Gaines, 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,” said Fortescue chairperson Dr Andrew Forrest.

“Fortescue Future Industries 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 Gaines, the board is united in its vision and enthusiasm for the opportunity this presents.”

“Gaines 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 we can deliver on a commercial, highly sustainable basis.

“Gaines’ depth of character, leadership, global integrity and respect is appreciated by Fortescue’s executives and fellow directors. With our new CEO, our team will continue to empower Fortescue’s leadership of a commercial solution to global warming,” said Forrest.

Gaines for her part said that the opportunity to continue to contribute to Fortescue and serve its shareholders was a unique privilege.

“We are committed to our goal of achieving carbon neutrality for Scope 1 and 2 emissions by 2030, and I am excited to continue to play a part in delivering on these important strategic objectives,” said Gaines.