Elizabeth Gaines will step down as chief executive officer of Fortescue Metals Group as the Australian miner transitions from a pure play iron ore producer to a diversified renewable energy and resources major.

Gaines, who joined Fortescue in 2013 and has held the CEO position for the past four years, will continue her leadership at the company as a non-executive director and as its global green hydrogen brand ambassador. She will also assist in the search for her replacement. 

“The search with Elizabeth, for a CEO and an even deeper management bench, is an enormous opportunity for a talented and visionary executive team, to continue the successful leadership of Fortescue, as we deliver on our strategy to diversify Fortescue to a renewable energy and resources company,” Chairman Dr. Andrew Forrest said.

“Fortescue Future Industries (FFI) is making enormous progress and will support the decarbonisation of Fortescue through the innovation and technological development of a green fleet and the supply of green energy. We are undergoing a significant transition, and I am delighted that with Elizabeth, the board is united in its vision and enthusiasm for the opportunity this presents.”

Fortescue did not set a timeline for the leadership changeover.

Source: Fortescue Metals Group