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BHP hastens CEO succession plan and appoints director to Transurban Board

  • Posted on Tuesday 14th, January 2020.

Mining company, BHP, has released an update on its CEO transition and has also appointed a director to the Board of road operator company, Transurban.

BHP has announced that Andrew Mackenzie will retire from his position as CEO on 31 March 2020, three months earlier than previously advised.

BHP said in a statement that the CEO transition is proceeding "well and ahead of schedule". Mike Henry assumed the role of CEO from 1 January 2020.

Henry has 30 years’ experience in the global mining and petroleum industry, spanning operational, commercial, safety, technology and marketing roles. He was appointed to his current role of President Operations Minerals Australia in 2016, and has been a member of the Executive Leadership Team since 2011.

Henry joined BHP in 2003, initially in business development and then in marketing and trading of a range of mineral and petroleum commodities based in The Hague, where he was also accountable for BHP’s ocean freight operations. He went on to hold various positions in BHP, including President Coal, President HSE, Marketing and Technology, and Chief Marketing Officer. Prior to joining BHP, Mr Henry worked in the resources industry in Canada, Japan and Australia.

“Mike Henry’s deep operational and commercial experience, developed in a global career spanning the Americas, Europe, Asia and Australia, is the perfect mix for our next CEO," said BHP Chairman, Ken MacKenzie.

"I am confident his discipline and focus will deliver a culture of high performance and returns for BHP. Mike has been a strong advocate for the industry, driving higher standards of safety and a commitment to our local communities and global stakeholders.

“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. We thank him for his vision and hard work, which has changed the way we operate and engage with the world," he said.

Mackenzie said it has been a privilege to serve as CEO of BHP.

"Our products are essential to global economic development and we deliver them in a way that creates significant value, for our shareholders, our employees, communities, nations and the world," he said.

"BHP is in a good position. We have a simple portfolio, a strong balance sheet and options to grow value and returns for decades to come.

“Fresh leadership will deliver an acceleration in the enormous potential for value and returns that will come from BHP’s next wave of transformation. Choosing the right time to retire has not been an easy decision, however the Company is in a good position. I am confident Mike and BHP will seize the many opportunities that lie ahead.”

Meanwhile, Transurban, will see BHP Director, Terry Bowen, join its Board, effective 1 February 2020.

BHP applies a nine-year tenure guideline as part of Director succession planning and therefore, as planned, Lindsay Maxsted will not stand for re-election at the 2020 BHP Annual General Meetings. As a consequence, there will be a limited period of overlap between Terry Bowen and Lindsay Maxsted on the Boards of BHP and Transurban.

As planned, Terry Bowen has also been appointed as Chair of BHP’s Risk and Audit Committee, effective 1 May 2020. Maxsted will remain a member of the Risk and Audit Committee until his retirement from the BHP Board at or before the 2020 Annual General Meetings.

Bowen is currently a Managing Partner & Head of the Operations Group at BGH Capital. Upon joining the Transurban Board, Bowen will reduce his responsibilities at BGH, transitioning to a part-time role as Partner and Chair of the Operations Group.

In other news, BHP has contracted Perth-based engineering group, Monadelphous, for a number of construction and maintenance projects.

(Image: BHP CEO, Mike Henry.)

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