FORTESCUE METALS GROUP CEO RESIGNS AFTER LESS THAN SIX MONTHS IN ROLE

BY GERARD MAZZA

An FMG iron ore train Credit: Geez-oz, via Creative Commons.

Fortescue Metals Group (FMG) CEO Fiona Hick has resigned after less than six months in the role.

FMG  announced this morning that the resignation had been “both friendly and mutual”.

FMG Founder and Executive Chair Andrew Forrest said: “We thank Fiona for her valuable efforts since joining Fortescue just under six months ago and wish her all the best with her future pursuits.”

Ms Hick is the 10th senior executive departure from FMG in three years.

The iron ore miner also announced its annual financial results today, recording a $US 4.8 billion net profit for the year.

Ms Hick was one of 700 attendees at a party to celebrate 20 years of FMG held over the weekend at the Solomon Hub mine site on Yindjibarndi country.

Jimmy Barnes performed at the event.

According to the Australian Financial Review, FMG approached Coldplay to play at the event, but the UK band’s asking price of $10 million was too high.

The Yindjibarndi Aboriginal Corporation is pursuing legal action seeking compensation from FMG for mining on its country at the Solomon Hub without consent.