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BHP Billiton elects new Chairman

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LNG Industry,

BHP Billiton has announced that Ken MacKenzie has been elected Chairman, effective 1 September 2017.

MacKenzie will succeed Jac Nasser in the role, who is retiring as both Chairman and Non-executive Director. MacKenzie’s appointment follows a formal Chairman succession process led by Senior Independent Director, Shriti Vadera.

The new Chairman joined the company’s board as a Non-executive Director in September 2016, and is a member of the Board’s Sustainability Committee. During 23 years at Amcor – a global packaging company with operations in more than 40 countries – he gained significant international business experience. For 10 of those 23 years, he served as Managing Director and Chief Executive Officer.

Vadera said: “As we announce the election of a new Chairman, the BHP Board would like to recognise the outstanding contribution of our retiring Chairman, Jac Nasser. Jac has been a Director for 11 years, the last seven as Chairman, and has led the Company during a period of extraordinary change in the resources industry. We thank him for his long and distinguished service to BHP.

"With the assistance of Heidrick & Struggles, a leading international recruitment firm, the Board undertook a rigorous search and assessment of potential external and internal candidates against clear skills and performance criteria.

“Ken MacKenzie brings extensive global executive experience and a strategic approach. He has a proven track record of delivering value for shareholders. He has the operational and financial capabilities as well as the rigour necessary to effectively oversee BHP’s capital allocation framework.”

Nasser added: “It has been an honour to serve as a Director and as Chairman of BHP. BHP is a great company with world-class assets and talented people. In particular, I would like to thank Andrew Mackenzie and his team for their vision and hard work to help deliver significant change over the past four years. Ken MacKenzie is an excellent choice as leader of the Board, and I wish him every success in the role."

MacKenzie said: “It is an honour and a privilege to succeed Jac Nasser as Chairman of BHP. Under his leadership, BHP has been transformed into a simpler, more productive and more resilient company. As incoming Chairman, I look forward to engaging with shareholders and other stakeholders over the coming weeks to understand their perspectives. I am committed to the creation of long-term value for all of our shareholders and will work tirelessly with the Board and management to achieve this.”

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