The comments from Andrew Forrest during an interview in Nairobi come after three high-profile executives left the company 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.
Fortescue last month reported an 11% drop in profits, and investors are bracing for a sharp increase in spending as Forrest spearheads a move to decarbonize the company. He declined to comment on the specific reasons for the departures, but pointed to a need maintain focus within the company. “They were good people, but we need constant alignment of interest,” Forrest said. “It’s difficult to grow a new industry, and it’s difficult to break into a new industry while you’re growing.”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 decarbonization of the miner’s vehicle fleet.