BHP has chosen former Amcor CEO, Ken MacKenzie to succeed Jac Nasser as Chairman from later this year.
MacKenzie has only been a BHP director for 9 months, so it is clear he brought onto the board with the view that he would replace Mr Nasser.
BHP made the announcement on Friday morning after a meeting of the BHP board in Chile this week.
It means that Melbourne-based BHP has stuck with another business leader from that city to lead the company’s board, Jac Nasser is from Melbourne and spent years there running Ford Australia.
Mr MacKenzie will assume the role of Chairman from September 1 this year, following Mr Nasser’s retirement as both Chairman and a Non-executive Director.
The appointment follows a formal Chairman succession (voting) process led by Senior Independent Director, Shriti Vadera.
Mr MacKenzie joined the BHP Board as a Non-executive Director in September 2016 and is a member of the Board’s Sustainability Committee.
He spent 23 years at Amcor, and served as Managing Director and Chief Executive Officer for 10 of those 23 years.
Senior Independent Director, Shriti Vadera, said in a statement from BHP Friday morning that “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.”
Chairman-elect, Ken MacKenzie, said in the statement “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.”
