𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

BHP has named Brandon Craig as its new chief executive to replace Mike Henry at the helm of the world’s largest mining company.

Mr Craig, who is currently BHP’s Americas boss, will start on July 1, when Mr Henry steps down after six-and-a-half years in the role.

The Australian mining giant – which switched its main listing from London to Sydney in 2022, but retained a standard listing in the UK – said Mr Henry had helped the firm establish itself as the world’s biggest copper producer.

But he also presided over two failed attempts to buy rival Anglo American to further bolster its copper portfolio, last November walking away from a deal just 18 months after its previous ill-fated approach.

Former FTSE 100 company BHP had looked to muscle in on the agreed mega-merger between Anglo and Canadian rival Teck Resources before pulling out.

Ross McEwan, BHP chairman and former NatWest chief executive, said Mr Craig’s “discipline and focus” would help him drive the group’s strategy forwards.

“We would like to recognise the outstanding contribution of Mike Henry to BHP as chief executive,” he added.

“Under his leadership, BHP has transformed into a safer and more productive company, financially strong and sharply focused on shareholder value and social value.”

Mr Craig has worked at BHP for more than 25 years, having joined in 1999.

Before his current role, he also previously led the group’s Western Australia iron ore business.

He will take on the chief executive role with a 1.9 million US dollar (£1.4 million) annual salary, plus benefits, with the potential for cash and share awards worth up to a maximum of 6.8 million dollars (£5.1 million) each year and possible long-term incentive share awards of up to 3.8 million dollars (£2.8 million) a year.

Mr Craig said: “It is an honour and privilege to succeed Mike Henry as chief of BHP.

“Thanks to his leadership, BHP is well positioned for the future.

“Mike will be remembered for his strategic decision-making, portfolio transformation, operational excellence and focus on safety and high-performance culture.”

Outgoing boss Mr Henry said: “It has been a privilege to serve as chief executive of BHP and to have worked with so many truly talented people. I am proud of what we have achieved together.”