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.
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(END) Dow Jones Newswires