Fortescue axes 700 roles in global overhaul, appoints CFO
Prominent Australian mining and energy group Fortescue on Wednesday announced the simplification of its organisational structure, the appointment of a new CFO and COO, as well as 700 redundancies across its global operations.
Apple Paget has officially been made CFO, having served 11 months acting in the position. Paget joined Fortescue in January 2023.
Concurrently, chief corporate officer Shelly Robertson has been appointed COO. She joined the company in October 2024 and has a 30-year career in the oil and gas, mining and renewable-energy industries.
Fortescue said that, following a period of rapid growth and transition as part of bringing together its metals and energy businesses into one organisation, it needed to simplify its structure and remove duplication.
As part of this, the group will offer redundancies to 700 people in a process that will be completed by the end of this month.
The streamlined ‘One Fortescue’ will be reflective of its board, comprising 50% women. Diversity will also be a key measure of performance, with new targets implemented to drive diversity across the business.
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