Insiders

Freeport names veteran CEO Richard Adkerson as chairman, reinstates dividend

February 02, 2021 at 09:36 pm EST

(Reuters) - Freeport-McMoRan Inc named long-time Chief Executive Officer Richard Adkerson as chairman of the board, the U.S. miner said on Tuesday.

Adkerson, 74 and CEO since 2003, said he has no plans to retire and is healthy.

The company also said Gerald Ford would retire as director upon the end of his current term in June. Ford would step down as non-executive chairman of the board.

Freeport added it has reinstated dividend on its common stock at an annual rate of $0.30 per share, an increase of $0.10, prior to suspending the payments in April last year due to the COVID-19 pandemic.

(Reporting by Sucharita Ganguly and Juby Babu; Editing by Devika Syamnath and Shounak Dasgupta)

Stocks mentioned in the article

	Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
	HILLTOP HOLDINGS INC.	29.72 USD	+1.56%	-2.98%	1.91B

Richard Adkerson

Richard C. Adkerson is a businessperson who has been the head of 9 different companies and holds the position of Chairman & Chief Executive Officer for Freeport-McMoRan, Inc. and President Commissioner for PT Freeport Indonesia, Chairman at Atlantic Copper SA and Chief Executive Officer at Freeport-McMoRan Mineral Properties, Inc. (which are all subsidiaries of Freeport-McMoRan, Inc.). Richard C. Adkerson is also Member of Council on Foreign Relations, Inc., Member of The Business Roundtable, Member of The Business Council and Member of Bill, Hillary & Chelsea Clinton Foundation and on the board of 8 other companies. Mr. Adkerson previously occupied the position of Chairman, President & Chief Executive Officer for Stratus Properties, Inc., Co-Chairman at McMoRan Exploration Co., Managing Director & Partner at Arthur Andersen LLP, Campaign Chairman at Banner–University Medical Center Phoenix and President of University of Mississippi Foundation. Mr. Adkerson received an MBA and an undergraduate degree from Mississippi State University.

View full profile

Linked companies
FREEPORT-MCMORAN INC.	Chief Executive Officer
PXP Producing Co. LLC PXP Producing Co. LLC Integrated OilEnergy Minerals PXP Producing Co. LLC provides exploration, development, acquisition and production of oil and gas properties. The company is headquartered in Houston, TX.	Chief Executive Officer