MIKE Henry will replace Andrew Mackenzie as chief executive of BHP on January 1, 2020.
Canadian-born with Japanese heritage on his mother’s side, Mr Henry joined BHP in 2003 to work on a range of marketing roles, and in trading a range of mineral and petroleum commodities while based in The Hague.
He brings more than 30 years experience, and has been on BHP’s executive leadership team since 2011.
He was appointed to his current role as president operational minerals Australia in 2016, covering iron ore, coal, copper and nickel assets.
Mr Henry delivered major projects such as South Flank iron ore in the Pilbara, implemented BHP’s first full-scale autonomous haulage system at Jimblebar, and has overseen the turnaround of the Nickel West business which BHP took off the market this year.
Mr Henry will be paid a base salary of $US1.7m, plus 10pc pension contribution, a cash and deffered plan representing up to 80pc of base salary and a long-term incentive plan of up to 200pc of base salary.
Current chief executive Andrew Mackenzie said that with 75pc of the total target renumeration represented by incentive plans, a large part of Mr Henry’s renumeration would be directly dependent on his performance.
BHP chair Ken Mackenzie said that Mr Henry’s operational and commercial experience, developed over his career spanning the Americas, Europe, Asia and Australia, made him the perfect candidate.
“I am confident his discipline and focus will deliver a culture of high performance and returns for BHP,” he said.
“We would also like to recognise 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.”
The outgoing CEO said that fresh leadership would accelerate BHP’s potential for value through transformation.
“Choosing the right time to retire has not been an easy decision, however the company is in a good position,” he said.
“I am confident Mike and BHP will seize the many opportunities that lie ahead.”
