The former Reserve Bank deputy governor has become the third senior executive this week to free themselves from the orbit of Andrew Forrest.
Former Reserve Bank deputy governor Guy Debelle has become the third senior executive this week to free themselves from the orbit of Andrew Forrest, leaving Fortescue Futures Industries for vanadium minnow Tivan.
Guy Debelle was front runner to be the next Reserve Bank Governor before he left the RBA for Fortescue.On Friday, he joined the board of ASX-listed Tivan, which is developing critical minerals deposits in northern Australia, and has a market capitalisation 600 times smaller than that of Fortescue.on Monday, which was swiftly followed by the departure of the iron ore miner’s chief financial officer Christine Morris.
Fortescue executive chairman and Australia’s richest man, Andrew Forrest, said earlier this week that the steady churn of senior executives was a natural part of the process of a company reinventing itself. Hick’s shock departure after six months diverted attention to Fortescue’s full-year financial results when an unexpected $US726 million writedown at its troubled Iron Bridge magnetite operation dragged net profit down to $US5.5 billion for fiscal 2023.
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