Fortescue Metals Group Ltd - Board of Directors
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About Fortescue

Board of Directors

Mr Andrew Forrest
Chairman

Term of Office

Mr Forrest was appointed Chairman of the Company  in July 2003. He became Chief Executive Officer in 2005 and resumed non-executive responsibilities as Chairman (elect) in July 2011.

Experience

Mr Forrest is Founder, Chairman and a member of the Company’s Remuneration and Nomination Committee and has led the company to its A$14 billion market capitalisation as the fourth largest seaborne iron ore producer. Under Mr Forrest, Fortescue has made significant investments in the Australian resources sector of more than US$18 billion.

Mr Forrest is Founder and Chairman of Minderoo Foundation, Australia’s largest philanthropic organisation, which operates GenerationOne, The Australian Employment Covenant and Walk Free, a global campaign to end modern slavery. He is a Councillor of the Global Citizen Commission which will report to the United Nations General Assembly in 2016 on reforming the Universal Declaration of Human Rights. In 2013, he was appointed by the Prime Minister of Australia to Chair the Review of Indigenous Training and Employment Programmes. He is Commonwealth ambassador for employment and engagement with disadvantaged communities and Chair of the Foundation of the Art Gallery of Western Australia.

An Adjunct Professor of the China Southern University and a long standing Fellow of the Australian Institute of Mining and Metallurgy, Mr Forrest is a leading representative of and advocate for the resources sector globally. He is Co-Chairman of the Senior Business Leaders’ Forum, the leading formal dialogue for China and Australia’s most senior business leaders.

Other current directorships (ASX listed entities)
None.

Former directorships in the last 3 years (ASX listed entities)
Non-Executive Chairman of Poseidon Nickel Limited 2007 to
September 2013.

Mr Herb Elliott AC, MBE
Deputy Chairman, Non-Executive Director

Term of Office

Mr Elliott was appointed as a Non-Executive Director of the Company in October 2003, Deputy Chairman in May 2005 and Chairman in March 2007. He retired as Chairman in August 2011 and remains on the Board as Deputy Chairman and Lead Independent Director.

Experience

Mr Elliott is a member of the Remuneration and Nomination Committee.  He was a member of the Audit Committee until he resigned from the committee in May 2011.  Mr Elliott has been Chairman of Telstra Foundation Ltd and is a former Director of Ansell Ltd and Pacific Dunlop Ltd.  

He was the Inaugural Chairman of the National Australia Day Committee, a Commissioner of the Australian Broadcasting Commission and Deputy Chairman of the Australian Sport Commission.  Mr Elliott was also a director of the World Olympians Association.  Previous executive roles include President of PUMA North America.  Mr Elliott is a Doctor of the Queensland University of Technology.

Other current directorships (ASX listed entities) Non-Executive Chairman of dorsaVi Ltd.

Former directorships in the last 3 years (ASX listed entities) None.
 

Mr Neville Power
Executive Director

Term of Office

Mr Power was appointed Chief Executive Officer in July 2011, after joining the Company in February of that year, and joined the Board as an Executive Director in September 2011.

Experience

Mr Power has more than 30 years’ experience in the mining, steel and construction industries and has a proven track record in the delivery of major infrastructure projects, contract mining and steel manufacturing and distribution. As the CEO of Fortescue, Mr Power has presided over the tripling of Fortescue’s iron ore production capacity to over 155 million tonnes per annum, establishing its position as one of the world’s largest, low cost producers of iron ore.

He has long been a champion of Indigenous employment and is playing a pivotal role in strengthening and extending Fortescue’s work in developing Aboriginal businesses as well as direct employment opportunities. Before joining Fortescue, Mr Power was Chief Executive Australian Operations for Thiess Pty Ltd, a wholly-owned subsidiary of Leighton Holdings, where he was responsible for the construction business with a turnover of $4 billion per annum and 3,500 staff delivering some of Australia’s most significant infrastructure projects.

Mr Power gained over 10 years’ experience in steel manufacturing and distribution as Chief Executive of the Reinforcing and Steel Products Division with the Smorgon Steel Group, one of Australia’s largest and most successful steel businesses.

He established his mining career with over 20 years’ experience in base metals, gold and coal mining and mineral processing with Mount Isa Mines.

Mr Power has a Bachelor of Engineering and a Masters of Business Administration (MBA). He maintains an active interest in managing the family cattle property and is an avid aviator, holding both helicopter and fixed wing licenses with endorsements on a range of aircraft.

Other current directorships (Plc listed entities):
None

Former directorships in last 3 years (ASX listed entities): None


Mr Graeme Rowley AM
Non-Executive Director

Term of Office
Mr Rowley was appointed as an Executive Director in May 2003. Following his retirement from executive duties with Fortescue, Mr Rowley again became a Non-Executive Director of the Company in March 2010.

Experience
Mr Rowley was an executive with Rio Tinto plc and previously held senior positions with Hamersley Iron and Argyle Diamonds.  Mr Rowley’s previous directorships have included the Dampier Port Authority, the Pilbara Development Commission, the Council for the West Pilbara College of TAFE and the Western Australian State Government’s Technical Advisory Council.


Mr Rowley is currently Chairman of the National Centre for Excellence in Desalination and he is also a Non-Executive Director of Admedus Ltd. Mr Rowley has extensive experience in operational management of both iron ore ship loading facilities and heavy haul railway within the unique Pilbara environment.

Other current directorships (ASX listed entities): Non-Executive Director of Admedus Ltd.

Former directorships in the last 3 years (ASX listed entities): None.


Mr Owen L Hegarty
Non-Executive Director

Term of Office
Mr Hegarty was appointed as a Non-Executive Director in October 2008.

Experience

Owen Hegarty has some 40 years experience in the global mining industry, including 25 years with the Rio Tinto group where he was Managing Director of Rio Tinto Asia and Managing Director of the Group’s Australian copper and gold business.  

He was the founder and CEO of the Oxiana Ltd Group (now OZ Minerals Ltd), which grew from a small exploration company to a multi-billion dollar Australia, Asia and Pacific focused base and precious metals producer, developer and explorer.  Mr Hegarty was awarded the AusIMM Institute Medal in 2006 and the G.J. Stokes Memorial Award in 2008 for his achievements in the mining industry.

Mr Hegarty is Executive Vice Chairman of Hong Kong listed G-Resources Group Ltd, a gold mining company. He is also Chairman of Tigers Realm Minerals Pty Ltd, a private Melbourne based mining company and Chairman of EMR Capital, a private equity investment manager focused on resources.  Mr Hegarty is a Director of the AusIMM and a member of a number of Government and industry advisory groups.

Other current directorships (ASX listed entities): Non-Executive Director of Tigers Realm Coal Limited and Highfield Resources Limited.

Former directorships in the last 3 years (ASX listed entities): None.

Mr Mark Barnaba
Non-Executive Director

Term of Office
Mr Barnaba was appointed as a Non-Executive Director in February 2010.

Experience
Mr Mark Barnaba is Chairman of the Audit and Risk Management Committee and a member of the Remuneration and Nomination Committee.

Mr Barnaba currently holds the position of Chairman with Macquarie Bank Western Australia, Western Power, Edge Employment Solutions (a disability employment organization), and the University of Western Australia Business School. He also serves as an Adjunct Professor in Investment Banking and Finance and as a member of the In The Zone Editorial Committee with the University of Western Australia. Until recently, Mr Barnaba held the position of co-founder and Executive Chairman of Azure Capital and was a Non-Executive Chairman of the West Coast Eagles Football Club and a member of the Rhodes Scholarship Selection Committee.

Mr Barnaba received his Bachelor of Commerce with first class honours from the University of Western Australia in 1985 and was awarded the JA Wood University Medal for top graduate, university wide. He then went onto Harvard Business School and received an MBA in 1988, graduating with a high distinction as a Baker Scholar. In 2009,
Mr Barnaba was the recipient of the Western Australian Citizen of the Year Award in Industry and Commerce.

Other current directorships (ASX listed entities): None.

Former directorships in the last 3 years (ASX listed entities): Adept Solutions Ltd.


Dr Geoff Raby
Non-Executive Director

Term of Office
Dr Raby was appointed as a Non-Executive Director in August 2011.

Experience
Dr Geoff Raby was Australia’s Ambassador to the People’s Republic of China (2007-2011). Prior to that, he was a Deputy Secretary in the Department of Foreign Affairs and Trade (DFAT). He has extensive experience in international affairs and trade, having been Australia’s Ambassador to the World Trade Organisation (1998-2001), Australia’s APEC Ambassador (2003-2005), Head of DFAT’s Office of Trade Negotiations and Head of the Trade Policy Issues Division at the OECD, Paris. Between 1986 and 1991 he was Head of the Economic Section at the Australian Embassy, Beijing. He has been the Chair of DFAT’s Audit Committee and served as an ex officio member of the Boards of Austrade and EFIC (Export Finance and Insurance Corporation).

Other current directorships (ASX listed entities): Non-Executive Director of Oceana Gold Corporation, SmartTrans Holdings Limited, Yancoal Australia Limited and iSentia Group Limited.
 
Former directorships in the last 3 years (ASX listed entities):  None.


Herbert 'Bud' Scruggs
Non-Executive Director

Term of Office
Mr Scruggs joined the Fortescue Board in August 2011 as a Non-Executive Director.

Experience
Mr Scruggs is Managing Director of The Cynosure Group, a U.S. based direct investment company. He is an expert in corporate recoveries and step change business improvement. A lawyer by training (BYU 1984), he has held a number of corporate, government, and civic positions including Chief of Staff to the Governor of Utah and Chairman of the University of Utah Board of Trustees.

Mr Scruggs served on a number of boards of public as well as privately held companies including American Investment Bank, Barbados Light & Power, Deseret Morning News, Empire Insurance, and MK Gold – including service on multiple audit and executive committees.
Mr Scruggs served as CEO of Huntsman Financial Corporation and previously worked as President of the Leucadia Asset Management Group.

He was instrumental in Leucadia’s original decision to invest alongside Andrew Forrest in Fortescue. From July 2011 through December 2012, he provided, among other activities, management services to The Minderoo Group and the Australian Children’s Trust, where he continues to serve as a board member.

Other current directorships (ASX listed entities):
None.

Former directorships in the last 3 years (ASX listed entities): Non-Executive Director, Poseidon Nickel Limited, September 2012 to February 2014.


Mr Cao Huiquan
Non-Executive Director

Term of Office
Mr Cao Huiquan joined the Board as a Non-Executive Director in February 2012 as the nominated director on Fortescue’s Board from Hunan Valin Iron and Steel Group Company Ltd.

Experience
Mr Cao graduated from the Department of Physics, Beijing University in 1988 and obtained his Master Degree of Metal Physics from University of Science and Technology Beijing in 1991. He was an on the job Ph.D. of Engineering of Central Iron & Steel Research Institute, and was enrolled in the EMBA programme, China Europe International Business School in 2009.

In 1991, he joined Hunan Xiangtan Iron and Steel Co., Ltd and was appointed as General Manager in 2003. In 2005, he was appointed as General Manager of Hunan Valin Iron & Steel Co., Ltd (formerly Hunan Valin Steel Tube & Wire Co., Ltd), and then concurrently held the position of General Manager of Lianyuan Iron and Steel Group Co., Ltd since 2010. He is now the Chairman of Hunan Valin Iron and Steel Group Co., Ltd, the Chairman and CEO of Valin Iron & Steel Co., Ltd and General Manager of Valin Xiangtan Iron & Steel Group Co., Ltd.

Other current directorships (ASX listed entities): None.

Former directorships in the last 3 years (ASX listed entities): None.


Ms Elizabeth Gaines
Non-Executive Director

Term of Office

Ms Gaines was appointed as a Non-Executive Director in February 2013.

Experience
Ms Gaines is an Executive Director and the Chief Executive Officer of Helloworld Limited.  Prior to this, Ms Gaines was the Chief Operating Officer & CFO of Helloworld Limited, Chief Financial Officer of the Stella Group, Chief Finance and Operations Director of UK-based Entertainment Rights Plc and was previously Chief Executive Officer of Heytesbury Pty Limited.

Ms Gaines has held senior treasury and finance roles at BankWest in Australia and Kleinwort Benson in the UK and qualified as a Chartered Accountant with Ernst & Young. Ms Gaines is a member of the Institute of Chartered Accountants in Australia and the Australian Institute of Company Directors and holds a Bachelor of Commerce degree and Master of Applied Finance degree. Ms Gaines is a director of Mantra Group Limited and the Australian Federation of Travel Agents Limited.

Other current directorships (ASX listed entities): Executive Director of Helloworld Limited and Non-Executive Director of Mantra Group Limited.

Former directorships in the last 3 years (ASX listed entities):
None.
 

Mr Peter Meurs
Executive Director

Term of Office

Mr Meurs was appointed as an Executive Director of  the Company in February 2013.

Experience
Mr Meurs is the Director Development for Fortescue. His responsibilities span from exploration through studies to delivery of major capital expansion projects. As part of this he had direct responsibility for the recently completed delivery of Fortescue’s 100mt expansion and development of the plans for future developments.

Prior to Mr Meurs commencing with Fortescue in May 2010, he held the position of Managing Director at WorleyParsons. He was a key contributor to the growth and development of WorleyParsons after joining the company in 1988. During his time at WorleyParsons, Peter functioned in project management and company development roles including establishment of the foundations of the process business, the establishment and growth of alliance and integrated services contracts in Hydrocarbons and Minerals & Metals and the development of the New Zealand business.

Mr Meurs has a Bachelor Degree in Mechanical Engineering, is a Fellow of the Institution of Engineers Australia and is also a member of the Australian Institute of Company Directors.

Other current directorships (ASX listed entities) None.

Former directorships in the last 3 years (ASX listed entities) None.


Ms Sharon Warburton
Non-Executive Director

Term of Office
Ms Warburton was appointed as a Non-Executive Director in November 2013.
 
Experience
Ms Warburton is Executive Director of Strategy and Finance with Brookfield Multiplex. Prior to this, Ms Warburton was Chief Planning and Strategy Officer of United Arab Emirates based company, ALDAR Properties PJSC, and previously held a variety of senior executive roles with Brookfield Multiplex including Group General Manager, Mergers, Acquisitions and Operational Support and Group General Manager, Strategy and Operations.

She is a Chartered Accountant and has held senior finance roles at Citigroup and Rio Tinto.  She is a member of the Institute of Chartered Accountants in Australia and a Graduate of the Australian Institute of Company Directors.
 
Other current directorships (ASX listed entities): None.
 
Former directorships in the last 3 years (ASX listed entities): None.