BHP Names New CEO as Profit Slumps

Wednesday, Feb 20, 2013
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Global miner BHP Billiton appointed the head of its non-ferrous business as its new chief executive on Wednesday to replace Marius Kloppers, as it reported an expected 43 percent drop in half-year profit.


Andrew Mackenzie, 56, who joined BHP from rival Rio Tinto in 2008, will move into the top job in May, taking the reins at a time when the company is battling to protect margins by cutting costs amid weaker commodity prices.


The announcement came as BHP reported its profit before one-off items tumbled to $5.68 billion for July-December 2012 from $10 billion a year earlier and took $3 billion in writedowns on its aluminium and nickel businesses.

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