Fortescue announces key appointments amid restructuring

Fortescue Ltd, an Australian company that is one of the world’s largest producers of iron ore, has announced significant changes to its management team and organisational structure to enhance efficiency and agility as the company continues its growth trajectory in the green technology, energy, and metals sectors. The company has appointed new executives to critical roles and streamlined its operations to align with its strategic goals.

Apple Paget, who has been serving as acting CFO, has been appointed as Group CFO. Paget joined Fortescue in January 2023 as Group manager, Finance and Tax, and brings 25 years of experience as a finance executive.

Shelley Robertson, previously chief corporate officer, has been named chief operating officer. Robertson joined Fortescue in October 2023 and has 30 years of experience in the oil and gas, mining, and renewable energy industries.

Navdeep (Mona) Gill, who has been with Fortescue since 2021 as legal manager and assistant company secretary, has been appointed as the new company secretary, replacing Phil McKeiver. McKeiver will continue to serve as chief general counsel.

Fortescue is undertaking a significant restructuring to unify its Metals and Energy divisions under the “One Fortescue” initiative. This move aims to simplify the company’s structure, eliminate redundancies, and achieve cost efficiencies. As part of this restructuring, approximately 700 employees will be offered redundancies by the end of July 2024.

The restructured team will reflect Fortescue’s commitment to diversity, with nearly 50%of the workforce being women. The company has set new targets to drive diversity across all business areas.

Fortescue remains steadfast in its ambition to be the world’s leading green technology, energy, and metals company, with a strong focus on achieving “Real Zero” emissions by 2030. In May, the company marked a new phase in its green energy initiatives with the launch of its first U.S. green hydrogen production facility, now named Arizona Hydrogen, in Buckeye, Arizona, U.S.A. The USD550 million venture signifies Fortescue’s commitment to expanding its green hydrogen footprint in North America.

Arizona Hydrogen is slated to produce up to 11,000 tons of liquid green hydrogen annually. This output will significantly aid in decarbonising the heavy-duty transportation sector in the U.S. Southwest, which consumes approximately 5 billion gallons of diesel fuel each year.