The Big Australian names its next chief executive
The big Australian is getting a new boss.
Brandon Craig will become CEO of BHP on July 1, replacing Mike Henry, who is stepping down after six and a half years in the role.
Mr. Craig is currently BHP’s president of the Americas, leading its forward-looking commodities growth strategy in Canada, the United States and South America.
He previously led BHP’s iron ore business in Western Australia, and BHP credited him on Wednesday with improving its operational performance and extending its lead as the lowest-cost, highest-margin major iron ore producer in the world.
“It is an honor and a privilege to succeed Mike Henry as CEO of BHP,” said Mr Craig, who has been with BHP since 1999.
“I look forward to continuing to move this great company forward.”
Mr Craig will receive a base salary of US$1.9 million ($2.7 million) and has the potential to earn a maximum of US$12.5 million ($17 million) more per year in bonuses.
Mr Henry will continue to provide support to Mr Craig until 30 November.
He said it was a privilege to serve as CEO of BHP and to have worked with so many talented people.
Under Mr Henry’s leadership, BHP sold its oil business to Woodside Energy, consolidated its dual-listed structure and strengthened its copper presence.
RBC Capital Markets analyst Kaan Peker said the appointment was a positive for the company, describing Mr Craig as a long-serving BHP executive with deep operational experience in both iron ore and copper.
BHP shares rose 0.4 percent to $49.92 in early trading.
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