BHP Billiton's chief executive to retire in May as earnings plummet
SYDNEY (AP) - BHP Billiton has announced that Mr Marius Kloppers will retire as chief executive and director, as the world's biggest miner on Wednesday posted a 58 per cent fall in half-year profit.
Mr Kloppers will be replaced on May 10 after six years at the helm by the company's chief executive of its non-ferrous metals division, Mr Andrew Mackenzie, 56.
"Despite an exceptionally difficult environment during his tenure, Marius and his team have delivered for shareholders, significantly outperforming our peers in terms of total shareholder returns," BHP Billiton chairman Jac Nasser said in a statement. "He drove new investments into next generation opportunities, including US onshore gas and liquids and created one of the most valuable companies in the world."
Mr Mackenzie brought deep industry knowledge and global management experience to the CEO role, he said. Mr Mackenzie held senior positions with rival miner Rio Tinto before joining BHP Billiton in 2008.