BHP Billiton promotes director to chairman role

BHP Billiton, the Australian conglomerate with oil and gas assets, has elected Ken MacKenzie to succeed Jac Nasser as the chairman of the company’s board of directors.

BHP Billiton said on Friday that MacKenzie would assume the role of chairman effective September 1, 2017, following Nasser’s retirement as both chairman and a non-executive director.

The company added that the appointment followed a formal chairman succession process led by senior independent director, Shriti Vadera.

MacKenzie joined the BHP board as a non-executive director in September 2016 and is a member of the board’s Sustainability Committee.

He has 23 years of business experience gained at Amcor, a global packaging company with operations in over 40 countries. MacKenzie served as a managing director and CEO for ten of those 23 years.

Vadera said: “As we announce the election of a new chairman, the BHP board would like to recognize 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.

“(Ken MacKenzie) has the operational and financial capabilities as well as the rigor necessary to effectively oversee BHP’s capital allocation framework.”

Outgoing chairman, Jac Nasser, added: “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.”

The current director of BHP Billiton and current chairman-elect, Ken MacKenzie, said: “As incoming chairman, I look forward to engaging with shareholders and other stakeholders over the coming weeks to understand their perspectives.”

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