Fortescue has announced the resignation of its chief operating officer and two company directors following a detailed review for the Iron Bridge Magnetite project.
Fortescue said in a statement that COO Greg Lilleyman has resigned from his position with immediate effect.
According to the statement, Don Hyma, Director Projects and Manie McDonald, Director Iron Bridge have also resigned from the business, with Derek Brown, currently General Manager Solomon, named Acting Director Projects with the support of Fortescue’s senior Projects team.
Commenting on the leadership changes, Fortescue Chief Executive Officer, Elizabeth Gaines said the review showed the company had lost sight of its key values and culture at Iron Bridge.
“Since Fortescue was established, our values, above all else, have driven our behaviours and our decisions. These values were allowed to slip inside the Iron Bridge team,” Ms Gaines said.
“I would like to thank Greg Lilleyman for his enormous contribution since he joined Fortescue in January 2017. The success of our integrated marketing and operations strategy is a lasting legacy of Greg’s strategic focus and his commitment to our success over that period.
Ms Gaines said both herself and CFO Ian Wells would forego all incentive payments for the 2021 financial year.
“As CEO I must also take accountability and learn from this. Both Ian Wells, Chief Financial Officer and I will forego all incentive payments this financial year,” she said.
“We take this opportunity to reset the Company’s focus on our culture and values which defines us and makes Fortescue a truly great company.
“We have a huge depth of talented individuals with Fortescue DNA across the business who will all contribute as we continue our industry leading operational performance.”