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home / news releases / FSUMF - Fortescue founder Forrest returns to run iron ore operations

FSUMF - Fortescue founder Forrest returns to run iron ore operations

Fortescue Metals Group Ltd.
Fortescue Metals (OTCQX:FSUMF) said Wednesday that its billionaire founder Andrew Forrest will become executive chairman, specifically to oversee the group's iron ore business for an interim period when CEO Elizabeth Gaines departs in August. Forrest, who founded Fortescue in 2003, is currently chairman; he stepped down as CEO in 2011. The appointment came as the miner announced an organizational restructuring, in which the top executives of Fortescue Metals and Fortescue Future Industries will report directly to the board. Mark Hutchinson, a former president and CEO of General Electric Europe, will join Fortescue Future Industries in July and become its CEO by year-end. Last week, Fortescue said it was evaluating ways to convert a former coal mine in Washington state into a green hydrogen production facility.

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Fortescue founder Forrest returns to run iron ore operations
Stock Information
Company Name: Fortescue Metals Group Ltd.
Stock Symbol: FSUMF
Market: OTC
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