BHP Group Ltd (ASX: BHP) shares will be in focus today.
That's because the mining giant made a big announcement after the market close on Wednesday.
What did BHP announce?
All eyes will be on the Big Australian today after it announced a major leadership change.
According to the release, current BHP chair Ken MacKenzie plans to retire from the board on 31 March 2025.
The company notes that MacKenzie has been at the helm of BHP's board since September 2017, overseeing a period of significant transformation for the company. His leadership has seen BHP shift its portfolio towards future-facing commodities while maintaining a strong emphasis on safety, capital discipline, and value creation.
Reflecting on his time as BHP's chair, MacKenzie stated:
It has been a privilege to serve as the Chair of BHP for the last 8 years and as a Director for 9 years and I am proud of what the Board and management has achieved during that time. BHP is a simpler, more productive and more resilient company and this has been a result of a talented and committed team focused on creating sustainable long-term value for our shareholders, our supply chain, partners and our communities.
New chair appointed
BHP has been quick to act and has already named MacKenzie's successor.
The release reveals that former National Australia Bank Ltd (ASX: NAB) CEO and current independent non-executive director, Ross McEwan, has been named as BHP's next chair.
The company highlights that McEwan brings a wealth of global executive experience spanning more than 30 years, primarily in the financial services sector. He was CEO of NAB from 2019 to 2024 and Group CEO of the Royal Bank of Scotland from 2013 to 2019.
His expertise lies in capital allocation, risk management, and value creation within complex regulatory environments—skills that are likely to be important in steering BHP through the evolving landscape of global resources.
Commenting on his appointment, McEwan said:
It is an honour and privilege to succeed Ken MacKenzie as Chair of BHP. Under his leadership, the company is simpler, more agile and well positioned for the future. Ken will be remembered for his strategic decision-making, active institutional and retail shareholder engagement and outstanding capacity to see value, whether that's in strategy, portfolio, operational excellence or capital allocation.
As incoming Chair, I am committed to generating long-term value for all our shareholders and will work tirelessly with the Board and management to achieve this. I look forward to continuing to take this great company forward.
McEwan's appointment has been given the thumbs up by outgoing chair Ken MacKenzie. He said:
Ross is an excellent choice as leader of the Board, and I wish him every success in the role.
