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Fortescue Founder Forrest to Retake Control of Iron-Ore Operations

May 17, 2022 at 04:54 pm

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.

Write to Stuart Condie at stuart.condie@wsj.com

(END) Dow Jones Newswires

05-17-22 1854ET

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Andrew Forrest

Mr. Andrew Forrest is Independent Director at Buchans Minerals Corp. He is on the Board of Directors at Gossan Resources Ltd. and Buchans Minerals Corp. He received his graduate degree from the Camborne School of Mines.

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