Wednesday, 1 June, 2011 - 08:28
Forrest to chair FMG, new CEO moves in
Fortescue Metals Group has announced that its chief executive Andrew Forrest will retire from his current role, and will succeed Herb Elliott as chairman of the company.
Herb Elliott AC MBE is an Australian Living Treasure. At the 1958 Commonwealth Games in Cardiff, he won gold in the 880 yards and the mile. Two years later, at the 1960 Summer Olympics in Rome, Mr Elliott won the 1500m gold medal in world record time (3:35.6). He was inducted into the Sport Australia Hall of Fame in 1985. Mr Elliott was chair of Telstra Foundation, and director of Ansell and Pacific Dunlop. He was also inaugural chair of the National Australia Day Committee, a commissioner of the Australian Broadcasting Commission, and deputy chair of the Australian Sport Commission. Mr Elliott was a member of the World Olympians Association, and was one of the Olympic Torch bearers at the opening ceremony of the 2000 Summer Olympics in Sydney. In 1964, Mr Elliott was appointed a Member of the Order of the British Empire. In 2002, he was appointed a Companion of the Order of Australia for services to community leadership through the development of sport in Australia; continuing involvement in the Olympic movement at national and international levels; and as a supporter and benefactor of community and charitable organisations for youth, health promotion and cultural understanding.
Rank | Company | # | |
---|---|---|---|
1st | - | Fortescue | $27.57bn |
2nd | ![]() |
Woodside Energy | $20.93bn |
3rd | ![]() |
South32 | $8.43bn |
4th | ![]() |
Mineral Resources | $5.75bn |
5th | ![]() |
Northern Star Resources | $4.93bn |
Rank | Company | 1 Yr | 5 Yr |
---|---|---|---|
1075th | Po Valley Energy">Po Valley Energy | -17.35% | -4.1% |
1076th | DeSoto Resources">DeSoto Resources | -17.4% | 0% |
1077th | Fortescue">Fortescue | -17.44% | 29.19% |
1078th | BPH Global">BPH Global | -17.44% | 29.19% |
1079th | Alara Resources">Alara Resources | -17.5% | 10.61% |
Fortescue Metals Group has announced that its chief executive Andrew Forrest will retire from his current role, and will succeed Herb Elliott as chairman of the company.
THIS year’s salary survey shows that it’s not just the chief executives at the top end of town who have mouth-watering incomes. The chairmen at the state’s largest companies also have incomes way beyond the average punter.
Andrew Forrest’s philanthropic efforts are as restless as the iron ore magnate himself. Recent changes appear to be part of a restructuring of his various private and charitable interests under the new brand of Minderoo.
Andrew Forrest has reiterated his support for Fortescue Metals Group diversifying its operations into other commodities, but said there were no immediate plans to pursue nickel, or oil and gas over its core iron ore business.
Andrew and Nicola Forrest have rebranded their private company as Tattarang, with the change of name coming soon after several board and executive changes.
Position | Company | Year | Company's current rank |
---|---|---|---|
Director
|
2001 - 2019 | 1 | |
Deputy Chair
|
2011 - 2014 | 1 | |
Deputy Chair, Chair since 2007
|
2005 - 2011 | 1 |