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Biography : Mr. Andrew Forrest is Independent Director at Buchans Minerals Corp.

Fortescue Founder Forrest to Retake Control of Iron-Ore Operations

05/17/2022 | 04:54pm EDT

By Stuart Condie


SYDNEY--Fortescue Metals Group Ltd. founder Andrew Forrest will retake control of the mining group's iron-ore business when Chief Executive Elizabeth Gaines steps down in August.

The Australian miner on Wednesday said that Mr. Forrest will become executive chairman in August and oversee the iron-ore business for what it called an interim period. Mr. Forrest, who founded Fortescue in 2003, is currently chairman.

Fortescue also announced a raft of appointments to its Fortescue Future Industries unit, where activities include investing in low-emission energy technologies. Mark Hutchinson, a former president and CEO of General Electric Europe, will join FFI in July and become its chief executive by the end of 2022.


Write to Stuart Condie at stuart.condie@wsj.com


(END) Dow Jones Newswires

05-17-22 1854ET

Stocks mentioned in the article
ChangeLast1st jan.
FORTESCUE METALS GROUP LIMITED 3.80% 18.56 Delayed Quote.-6.92%
GENERAL ELECTRIC COMPANY 0.76% 67.235 Delayed Quote.-28.99%