The board of BHP (LON: BHP), the world’s biggest miner, announced that Mike Henry has been appointed chief executive officer following a thorough succession process.
Henry will assume the role of CEO and executive director effective January 1, 2020, replacing Andrew Mackenzie who will retire as CEO on December 31, 2019, BHP said in a media release.
Henry has 30 years of experience in the global mining and petroleum industry, spanning operational, commercial, safety, technology and marketing roles. He was appointed to his current role of president operations minerals Australia in 2016, and has been a member of the executive leadership team since 2011.
Henry joined BHP in 2003, initially in business development and then in marketing and trading of a range of mineral and petroleum commodities based in The Hague, where he was also accountable for BHP’s ocean freight operations. He went on to hold various positions including president coal, president HSE, marketing and technology, and chief marketing officer. Prior to joining BHP, Henry worked in the resources industry in Canada, Japan and Australia.
“Mike Henry’s deep operational and commercial experience, developed in a global career spanning the Americas, Europe, Asia and Australia, is the perfect mix for our next CEO. I am confident his discipline and focus will deliver a culture of high performance and returns for BHP,” chairman Ken MacKenzie said.
Henry will be paid a base salary of $1.7 million per year.
Andrew Mackenzie will step down as CEO, a member of the executive leadership team and an executive director of the company on December 31, 2019, and will retire from the group on June 30, 2020.
“We would like to recognize the outstanding contribution of Andrew Mackenzie to BHP as CEO. Under his leadership, BHP has transformed into a simpler and more productive company, financially strong and sharply focused on value for shareholders. We thank him for his vision and hard work, which has changed the way we operate and engage with the world,” Ken MacKenzie added.
“It has been a privilege to serve as CEO of BHP,” outgoing CEO Andrew Mackenzie stated. “Fresh leadership will deliver an acceleration in the enormous potential for value and returns that will come from BHP’s next wave of transformation. Choosing the right time to retire has not been an easy decision, however the company is in a good position. I am confident Mike and BHP will seize the many opportunities that lie ahead.”