Global miner Fortescue said initiatives are being implemented to simplify its structure, remove duplication and deliver cost efficiencies, including the layoff of 700 people across its global operations.
“The company must continually evolve to ensure it remains lean, is best positioned to deliver on its strategy and generate the maximum value for shareholders,” Fortescue said.
In addition to the layoffs, Fortescue announced the appointment of several executives. First, Apple Paget will become group chief financial officer after serving 11 months acting in the role. Paget joined Fortescue in January 2023 as group manager Finance and Tax, and has 25 years’ experience as a finance executive.
Chief Corporate Officer Shelley Robertson has been appointed chief operating officer. She joined Fortescue in October and is an experienced executive with a career spanning 30 years in oil and gas, mining and renewable energy. Lastly, Assistant Company Secretary Navdeep (Mona) Gill has been promoted to company secretary. Gill has 20 years of legal experience acting in roles across government and private practice.
Source: Fortescue