- Fortescue Metals Group (FMG) expedites CEO appointment following the departure of Fiona Hick
- Dino Otranto, a seasoned executive with extensive industry experience, steps in as CEO
- Dr Larry Marshall joins as a Non-Executive Director to guide technology advancements
- FMG released its FY23 results, showcasing a three per cent revenue drop to US$16.87 billion
- FMG is down 4.49 per cent, trading at $19.99 at 2:05 pm AEST
Fortescue Metals Group (FMG) has announced the departure of CEO Fiona Hick, who joined the company less than six months ago.
The company has moved swiftly, expediting the appointment of Dino Otranto as its newest CEO.
Mr Otranto joined FMG in 2021 as Chief Operating Officer and has more than 20 years of experience in the global energy and resources industry.
Meanwhile, the company has introduced Dr Larry Marshall as a Non-Executive Director to steer Fortescue’s technology endeavours, especially in the fields of energy, metals, investments, and strategy.
Mr Otranto expressed his enthusiasm for the role, highlighting Fortescue’s mission to reach Real Zero by 2030 in its operations as a response to the escalating challenges of climate change.
Under this new leadership, Dino Otranto will take the helm at Fortescue Metals, while Mark Hutchinson will lead Fortescue Energy, both reporting to the Executive Chairman and the Fortescue Board.
Also today, the materials giant released its FY23 report, revealing revenue was down three per cent to US$16.87 billion.
Underlying earnings (EBITDA) dropped six per cent to U$9.96 billion while underlying net profit (NPAT) lowered 11 per cent to US$5.5 billion.
Net profit after tax fell 23 per cent to $4.8 billion.
FMG was down 4.49 per cent, trading at $19.99 at 2:05 pm AEST.