Twiggy loses another senior exec
The 11th executive of Andrew ‘Twiggy’ Forrest’s Fortescue Metals Group has made their way out the door, just days after chief executive Fiona Hick resigned.
It was announced on Thursday that chief financial officer Christine Morris had left her position after just two months at the iron ore and clean energy group chaired by Mr Forrest, one of Australia’s richest men.
“Fortescue’s Group Manager Finance and Tax, Apple Paget has been appointed Fortescue Metals Acting CFO,” Fortescue said in a statement to the ASX.
It was only on June 2 that Ms Morris was announced as the mining divisions financial officer, beginning her role in early July.
Her departure adds to the rapid turnover of management in the past three years, with Morris’s resignation the eleventh departure.
Thursday night’s announcement comes just three days after the company’s chief executive Fiona Hick quit after six months in the job.
“The departure of Fiona has been both friendly and mutual, and we warmly wish her the best for her future,” Dr Forrest said in the wake of the shock announcement on Monday.
The company’s operations officer Dino Otranto has been promoted to executive position.
Just three of the executives on Fortescue’s executive team were with the company at the end of 2022.
The resignations followed a star-studded 20th anniversary party for Fortescue in the Pilbara last Saturday.
The executive team changes are not the only issue facing Fortescue, with its ownership structure likely to change due to the separation of Andrew and Nicola Forrest.
The nation’s wealthiest couple made their decision public in July, saying their the split would have no impact on their business or philanthropical endeavours.
“Our friendship and commitment to our family remains strong,” they said in the statement.
“There is no impact on the operations, control or direction of Fortescue, Minderoo or Tattarang.
“We will continue our shared mission to create and gift our wealth to tackle community and global challenges, as recently shown by last months’ donation of one-fifth of our Fortescue shareholding to Minderoo Foundation.”
FMG shares closed at $21.43, up 0.04 per cent, on Thursday.
