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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

(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%