Fortescue Metals Group Ltd. announced it will transition to a truly global company and restructure the organisation to have both the CEO of Fortescue and the CEO of Fortescue Future Industries (FFI) reporting directly to the Board. Dr. Andrew Forrest AO will be appointed Executive Chairman of the Fortescue Group, specifically overseeing the iron ore business for an interim period to help drive the company's transition when Elizabeth Gaines concludes her highly successful tenure in August 2022. Elizabeth Gaines will remain on the Fortescue Board as a Non-Executive Director and become Global Brand Ambassador for FFI.

Further, Fortescue announces Dr. Mark Hutchinson, former President and CEO of General Electric (GE) Europe, will join FFI in early July 2022, initially in the role of Director of Projects, before assuming the role of CEO of FFI, by the end of 2022. He held a number of very senior positions in GE, which was run by Jack Welch and later Jeff Immelt, during his 24 year tenure at GE. The current FFI CEO, Julie Shuttleworth, will continue in her role during the transition process and will then move to a senior executive leadership role at FI.

Fortescue also announces Ms Li Yifei will be appointed as a Fortescue Board Director in 2022 She currently serves on the board of BlackRock China and is a Global Trustee of the Rockerfeller Foundation. Mr. Andrew Vesey, former CEO of AGL Energy, will be appointed as FFI's Head of Energy Transition Projects. Andrew has spent more than 40 years transforming and repositioning organizations by focusing on advanced technology and execution.

Dr Jalal Bagherli will be appointed Co-Chair of Williams Advanced Engineering (WAE), along with Mr. Mark Barnaba AM the Deputy Chairman of Fortescue. Mr. Christiaan Heyning has been appointed as Head of Decarbonisation. Christiaan joins FFI from McKinsey where he was a founding partner of the Perth business.

FFI's current Director of Projects Gordon Cowe, will take on the new role of Head of Projects Development.