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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » BHP Billiton CEO retires as profits plunge

BHP Billiton CEO retires as profits plunge

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1BHP Billiton CEO retires as profits plunge Empty BHP Billiton CEO retires as profits plunge Wed Feb 20, 2013 11:07 am

Hanoifortune

Hanoifortune
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
SYDNEY - BHP Billiton said on Wednesday its boss Marius Kloppers will leave in May, just weeks after the head of rival miner Rio Tinto stepped down, with profits plunging on weak commodity prices as Chinese demand abates.

After nearly six years at the helm, South African Kloppers will be replaced by Andrew Mackenzie, the chief executive of non-ferrous business at the world's biggest miner.

The departure of Mr Kloppers, who led the firm through the global financial crisis, came on the same day BHP reported that first half net profit plunged 58 per cent to US$4.2 billion.

Chairman Jac Nasser gave credit to Mr Kloppers for BHP outperforming rivals.
http://www.businesstimes.com.sg/breaking-news/corporate-results-world/bhp-billiton-ceo-retires-profits-plunge-20130220

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Rio Tinto is also in the same situation no?

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
You probably don't know this, but the top shareholders of Rio and BHP are common - JP Morgan Nominees, Citicorp Nominees, HSBC International Nominees.

Rio is focused on iron ore, aluminium and copper
BHP is focused on gold and iron ore

Copper is the first to run out.

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