Fortescue founder Andrew Forrest says the clutch of executive-level departures at the iron ore miner is linked to the need to focus on its break into the green-energy industry.
The comments from Andrew Forrest during an interview in Nairobi come after three high-profile executives left the company last week, including former Reserve Bank of Australia deputy governor Guy Debelle.
“We need constant alignment of interest.“: Fortescue Metals Group executive chairman Andrew Forrest.Credit: Trevor Collens
Fiona Hick, chief executive officer of the iron ore division, and Christine Morris, the chief financial officer for metals, have also left.
Fortescue, the world’s fourth-largest iron ore miner, last month reported an 11 per cent drop in profits, and investors are bracing for a sharp increase in spending as Forrest spearheads a move to make the company a green hydrogen pioneer.
He declined to comment on the specific reasons for the departures, but pointed to a need to maintain focus within the company.
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“They were good people, but we need constant alignment of interest,” Forrest said. “It’s difficult to grow a new industry, and it’s difficult to break into a new industry while you’re growing.”
Forrest also hinted at further potential departures, as he referred back to earlier plans to appoint a dozen new executives to facilitate the push into green energy, which will include investments in geothermal power, hydrogen production and the decarbonisation of the miner’s vehicle fleet.
“If you talk about the C-suite, we’re nowhere near 12, and we’re upgrading all the time,” he said.









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