adminLaToya Harding
BHP has named industry veteran Mike Henry as its new chief executive, replacing Andrew Mackenzie who is retiring at the end of the year.
The Anglo-Australian miner said Henry, currently head of its iron ore, coal and copper mines in Australia, will take the helm on January 1.
The Canadian-born 53-year-old has worked at the firm for 16 years and in the mining industry for three decades.
He will earn a base salary of $1,7 million a year, consistent with that of Mackenzie’s.
Ken MacKenzie, chairman, said Mr Henry’s operational and commercial experience, which spans the Americas, Europe, Asia and Australia, was “the perfect mix for our next chief executive”.
He added: “We would like to recognise the outstanding contribution of Andrew Mackenzie to BHP as CEO. Under his leadership, BHP has transformed into a simpler and more productive company, financially strong and sharply focused on value for shareholders.”
Mackenzie (62) who has been at the reins of the FTSE 100 titan since 2013, oversaw the sale of BHP’s underperforming US shale gas assets and the spin-off of diversified miner South32 during his tenure.
In November 2015, an iron ore mine in Brazil operated by Samarco — BHP’s joint venture with its Brazilian counterpart Vale — collapsed, releasing a wave of wastewater into a river valley that destroyed two towns and killed 19 people.
SPG Law has served a $5 billion (£3,9 billion) damages claim on behalf of 235 000 Brazilian individuals and organisations, including municipal governments, local tribes and the Catholic Church, in what is the country’s worst ever environmental disaster. The firm is defending itself.
Bongani Ndlovu