Fortescue Metals Group chief financial officer Ian Wells will step down from his role at the end of this month, after four years in the position and more than a decade with the company.
Fortescue Metals Group chief financial officer Ian Wells will step down from his role at the end of this month, after four years in the position and more than a decade with the company.
Mr Wells joined Fortescue in 2010 and held senior executive finance roles, most recently as chief financial officer in 2018.
FMG's ASX announcement said Mr Wells had resigned from the company to pursue other opportunities but would continue in his role until January 31.
Mr Wells' resignation follows former Reserve Bank of Australia deputy governor Guy Debelle's departure as Fortescue Future Industries chief financial officer late last year.
In November, FMG announced Mr Debelle's resignation, citing recovery from a serious bike accident as the reason.
Another recent shake-up on the executive board includes FMG poaching Woodside Energy executive vice-president of Australian operations Fiona Hick as its new chief executive, replacing Elizabeth Gaines.
FMG confirmed it was undertaking a process to find Mr Wells’ successor.
Fortescue executive chairman Andrew Forrest said Mr Wells had made a huge contribution to the company.
"I recall fondly back in 2010, when Ian joined our team," he said in a statement.
"The finance team at the time were charged with refinancing our original project finance bonds and the successful refinancing in 2010 enabled the company to make investments to expand capacity to 155 million tonnes per annum.
"Since then, we have seen the company’s balance sheet and capital allocation change from debt repayment to reinvestment and delivering market leading shareholder returns. We now have a strong balance sheet and a renewed focus on growth.
“Ian has been a trusted member of the Executive team which has led Fortescue through a number of iron ore market cycles, more recently the impacts of COVID-19 together with global volatility.
"Despite these challenges Fortescue has retained a reputation for consistent and predictable performance as well as operating and capital cost discipline."
