BHP Group,an Australian multinational mining company has confirmed that its current Chair Ken McKenzie will retire from the Board at the end of next month from the position he occupied since 2017.
The company confirmed that McKenzie will be succeeded by Ross McEwan who was elected by the Board.
The company said Ken McKenzie joined the Board in September 2016 and has been Chair since September 2017.During this period,Ken has overseen the strategic transformation of BHP's portfolio towards future-facing commodities,with a strong focus on safety,disciplined capital management,world-class capability and culture,and a differentiated approach to creating social value.
McKenzie has thanked everyone at the BHP Group who made everything possible for company under his watch and also wished his successor all the best.
"It has been a privilege to serve as the Chair of BHP for the last 8 years and as a Director for 9 years and I am proud of what the Board and management has achieved during that time.BHP is a simpler,more productive and more resilient company and this has been a result of a talented and committed team focused on creating sustainable long-term value for our shareholders,our supply chain,partners and our communities.
"I would like to take this opportunity to thank my fellow Board members as well as the broader BHP team for their dedication to the ongoing success of BHP.
Ross is an excellent choice as leader of the Board,and I wish him every success in the role,"said Ken McKenzie.
The company stated that the appointment of Ross McEwan follows a formal Chair succession process led by BHP Senior Independent Director,Gary Goldberg.
The company mentioned that Ross has been an independent Non-executive Director of BHP since 4 April 2024,and has over 30 years' global executive experience,including in the financial services industry,with deep expertise in capital allocation,risk management and value creation in complex regulatory environments.
According to BHP,Ross was the CEO of National Australia Bank(from 2019 to April 2024) and Group CEO of the Royal Bank of Scotland(from 2013 to 2019).Prior to that,he held executive roles at Commonwealth Bank of Australia,First NZ Capital Securities and National Mutual Life Association of Australasia/AXA New Zealand.
The arrival and appointment of McEwan as the Chair of the BHP Group has been like a jackpot for the mining conglomerate as he armed with all expertise and skills that someone might think of.
The mining giant boasted that Ross brings a strong focus on people and culture,technology and innovation and has extensive experience in capital allocation and value creation.He has worked closely with a range of stakeholders,including customers,governments and regulators and brings a global perspective.He has a deep understanding of organisational transformation and brings a very strong focus on the customer and technology as a driver of change.
BHP highlighted that Ross is currently the Lead Independent Director of Reece Limited and a Non-executive Director on the Board of QinetiQ Group Plc.
McEwan is excited that he will succeed someone like McKenzie as the Chair and is committed to add value to the company.
"It is an honour and privilege to succeed Ken McKenzie as Chair of BHP.Under his leadership,the company is simpler,more agile and well positioned for the future.Ken will be remembered for his strategic decision-making,active institutional and retail shareholder engagement and outstanding capacity to see value,whether that's in strategy,portfolio,operational excellence or capital allocation.
"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,"said Ross McEwan.