BHP Billiton CEO Marius Kloppers to step down in May as profit drops

Kloppers is the second CEO of a major mining company to resign since January. Rio Tinto PLC chief executive Tom Albanese resigned suddenly last month after the company announced a big loss on a recent acquisition in Mozambique.

Kloppers will be replaced on May 10 after six years at the helm by the chief executive of BHP's nonferrous metals division, Andrew Mackenzie, 56.

BHP Billiton Chairman Jac Nasser said Kloppers guided the mining giant through the global financial crisis.

“Despite an exceptionally difficult environment during his tenure, Marius and his team have delivered for shareholders, significantly outperforming our peers in terms of total shareholder returns,” Nasser said in a statement.

The announcement of Klopper's resignation came as the Anglo-Australian company posted a 58-percent fall in first half profit to US$4.24 billion due to lower commodity prices and a weak U.S. dollar. The net profit for the six months to Dec. 31, 2012 was down from US$9.94 billion a year earlier.

SHARE CLOSE
Blogger		Google+
Live Journal		Plurk
Stumble Upon

Tweet

	PREVIOUS ARTICLE
	BMW recalls 750,000 cars worldwide over possibility of electrical problems

NEXT ARTICLE
Horsemeat fear raises its ugly head in Hong Kong

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

 Receive China Post promos
 Respond to this email

Submit