Australia’s Fortescue CEO to step down as miner expands green energy push
Fortescue Metals Group Ltd said on Friday Elizabeth Gaines will step down as chief executive as the miner extends its transition from a pure play iron ore producer to a green energy and resources firm.
Gaines, who oversaw a tripling in the share price of the world’s fourth-biggest iron ore miner in the last four years, will remain on Fortescue’s board as a non-executive director and assist in the search for the new CEO.
The move comes as Fortescue’s chairman and Australia’s richest man, Andrew Forrest, pushes to turn the company into the world’s biggest green energy group, with a focus on hydrogen at its green power arm, Fortescue Future Industries (FFI).
