Home Business Andrew Forrest will return to the top post as part of the...

Andrew Forrest will return to the top post as part of the Fortescue Shake


Fortescue Metals Group has announced a restructuring that will result in its clean energy business, Fortescue Futures Industry, receiving an equal rating with its multibillion-dollar iron ore business with direct representation on the board and a new CEO.

These steps include the appointment of former GE Europe chief Mark Hutchinson as head of the FFI. Founder and CEO Andrew Forrest will serve as interim iron ore manager when Elizabeth Gaines resigns as Fortescue CEO in August.

Andrew Forrest will return to run the Fortescue mining business.Credit:Edwin Pickles

“Today, Fortescue is moving further towards a global, green campaign for renewables and resources,” Forrest said.

“This growth and value to shareholders is already evident as our shareholder base has doubled since the launch of FFI, and our investors, from top institutional banks to ordinary investors, want to be part of this mission as we continue to far surpass our peers in the iron sector ore ».

Former AGL head Andrew Vesi will be appointed FFI Energy Transition Project Manager.

Gaines will retain the role of board and will serve as FFI ambassador.

Hutchinson’s roles in the U.S. GE conglomerate included five years of GE leadership in China before managing its European operations and 100,000 employees.

Still ahead

The Business Briefing newsletter contains key stories, exclusive coverage and expert opinions. Sign up to get it every morning of the weekday.


Previous articleThe first week of COP26 was less significant than it seemed
Next articleAUSPACK is finally back in 2022