Fortescue Metals said on May 18 that founder and top shareholder Andrew Forrest is to become executive chairman to run the company after Chief Executive Elizabeth Gaines steps down in August. Her departure was unveiled in December. Forrest, who is currently non-executive chairman, will relinquish his new role once a replacement for Gaines has been appointed.
The company also announced that Julie Shuttleworth will step down as CEO of Fortescue Future Industries, its green division, by the end of this year. She will take on as yet unspecified “senior executive leadership role” at the unit. She will be replaced by former GE Europe boss Mark Hutchinson. In addition, Andrew Vesey, who served as CEO of Australia’s AGL Energy from 2014 to 2018, is joining FFI as head of energy transition projects.
Fortescue also has nominated Yifei Li to be a board director. She was country chair for Man Group in China, sits on the board of BlackRock China and held senior management roles in the region for, among others, MTV and Viacom.