Fortescue champions leadership diversity at Annual General Meeting

Oct 29, 2019

 

Fortescue’s Founder and Chairman, Andrew Forrest AO joined Chief Executive Officer Elizabeth Gaines, the Fortescue Board of Directors, the Core Leadership Team and shareholders for the 2019 Annual General Meeting of Fortescue Metals Group.

 FY19 was a record-breaking year for Fortescue, reflecting the addition and changes to Fortescue’s product suite, record processed tonnes as well as the continued focus on productivity and efficiency initiatives. In addition to operational records, the Company delivered financial records including:

  • Underlying EBITDA of US$6.0 billion
  • Underlying NPAT of US$3.2 billion
  • Fully franked dividends of A$1.14 per share

 Mr Forrest attributed the outstanding results to the hard work and determination of the Fortescue team, and to the diversity of the Company’s leadership.

 “Fortescue is one of only 15 companies in the ASX200 with equal gender representation on the Board and we are all proud that our Board remains a leader in industry and corporate Australia for its gender diversity. As we build our global presence, we are also leading the way in ethnic diversity, with two Chinese representatives on the Board of Directors.

 "Fortescue is now rapidly evolving, drawing on the entire Fortescue family to continue to improve on our industry leading efficiency and world class operations to position our Company for dynamic future growth. The diversity of the Board is integral to Fortescue’s future success,” Mr Forrest said.

Chief Executive Officer, Elizabeth Gaines, said “At Fortescue, we recognise that encouraging diversity is not just the right thing to do, it is the smart thing to do. Women hold 26 per cent of senior management roles and we are focussed on building on our strong track record of Aboriginal training by supporting aspiring Aboriginal leaders in our business.”

Fortescue’s Leadership Excellence in Aboriginal People (LEAP) initiative is critical to supporting Aboriginal leaders in the workplace. The FY20 LEAP cohort attended the Company’s AGM to give program participants the opportunity to meet Fortescue’s Board and senior executive team and experience how the business operates at the highest level.

 “The LEAP program has been a tremendous success with 42 of our Aboriginal employees completing the program to date. Of this group, 50 per cent have been promoted and 30 per cent have become supervisors,” Ms Gaines said.