BHP bets billions on Chile mines to face global copper crunch
BHP detailed to investors this week plans to spend $10.7 billion to $14.7 billion within about 10 years.
Jacques Nasser, the chairman of BHP Billiton (ASX:BHP), has announced that succession plans for the position of company CEO are in progress without providing a concrete data for the replacement of current head Marius Kloppers.
News.com reports that while praising Kloppers’ accomplishments the Lebanese-born Australian businessman said that BHP would persist with its “commitment to the succession planning process we put in place when out CEO was appointed” in October 2007.
BHP is believed to have enlisted global recruitment agents to find a successor to Kloppers as well as considered potential candidates from outside the mining industry.
Rumours have circulated over the past month that BHP has accelerated its succession process for Klopper’s position due to the company’s recent poor performance during a difficult time for the industry.
Klopper’s replacement as CEO is set to arrive at time when other major miners are also implementing key changes to their senior management line-up, with Anglo American (LON:AAL) currently hunting for a new head from amongst the erstwhile staff of its peers.
