BHP, the global mining giant, has named Ross McEwan as its new chair, succeeding Ken MacKenzie. McEwan, a seasoned banker with extensive experience leading major financial institutions, brings a wealth of expertise to the role. One key focus for the new board will be the potential for a renewed bid for Anglo American, a prospect that was previously deemed off the table.
BHP , the global mining giant, has announced the appointment of Ross McEwan as its new chair, succeeding Ken MacKenzie. MacKenzie, who has held the position since 2017 and been a member of the board since the same year, was widely anticipated to step down this year.
During his tenure, MacKenzie oversaw several significant transformations within the company, most notably the divestment of BHP's oil, gas, and thermal coal interests, as well as a substantial reduction in its metallurgical coal operations. MacKenzie also guided the company through the transition to its primary listing on the Australian Securities Exchange and led BHP during its unsuccessful attempt to acquire Anglo American last year.McEwan, who joined the BHP board in April 2022, brings a wealth of experience in the financial sector to the role. His career in Australia includes a period as group executive for retail banking services at the Commonwealth Bank of Australia between 2003 and 2011, followed by his role as chief executive of National Australia Bank until April 2022. During his time at NAB, McEwan navigated the company through a public inquiry into misconduct that resulted in the departure of its previous chief executive. He also held the position of chief executive at Royal Bank of Scotland from 2013 to 2019, overseeing the bank's return to profitability after a bailout by the UK government following the global financial crisis.With McEwan at the helm, a key focus for the new board will likely be the potential for a renewed bid for Anglo American. MacKenzie stated at BHP's annual general meeting on October 30 that the company had 'moved on' from the deal, but McEwan's appointment could signal a shift in strategy. Another significant task for McEwan will be selecting BHP's next chief executive, as current CEO Mike Henry has been in the position for five years. 'It is an honour and privilege to succeed Ken MacKenzie as chair of BHP,' McEwan said. 'Under his leadership, the company is simpler, more agile and well-positioned for the future. As incoming chair, I am committed to generating long-term value for all our shareholders and will work tirelessly with the board and management to achieve this. I look forward to continuing to take this great company forward.
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