WATCH LIVE: Treasurer Jim Chalmers speaks about national accounts; Grattan Institute CEO Danielle Wood has been appointed chairwoman of the Productivity Commission; Chris Barrett will take up the role of Victoria’s Treasury secretary. Follow updates here.
A clutch of executive-level departures at Fortescue Metals is linked to the need to focus on its break into the green-energy industry, the company’s billionaire founder said.
Fortescue, the world’s fourth-largest iron ore miner, last month reported an 11 per cent drop in profits, and investors are bracing for a sharp increase in spending as Forrest spearheads a move to make the company a green hydrogen pioneer. He declined to comment on the specific reasons for the departures, but pointed to a need to maintain focus within the company.
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