Mark Hutchinson, the head of Fortescue Energy and partly responsible for meeting the company’s “real zero” target at its giant iron ore mines, and its global green hydrogen strategy, is to retire from the company as part of yet another senior executive reshuffle.
Hutchinson, who joined Fortescue Metals from GE in 2022, is one of two significant departures announced by Fortecue executive chairman Andrew Forrest on Thursday, along with chief operating officer Shelley Robertson, who was appointed in July last year.
Fortescue is charging ahead with its goal of reaching “real zero” at its giant Pilbara mines by 2030, meaning that it will not be burning gas or diesel for terrestrial transport or mining operations by that time.
It has signed a $4 billion deal for giant electric haul trucks and other mining equipment, and has recently filed an application to build a 2.1 GW wind farm – Australia’s biggest – to add to the solar farms it is also building to supply power to its mine sites.
Its green hydrogen strategy, however, has largely been put on hold, with Forrest abandoning his stretch goal of delivering 15 million tonnes of green hydrogen a year by the end of the decade, and the company announcing job losses at its Queensland and Arizona green hydrogen projects, its most advanced.
As part of what Forrest describes as a “refinement of its leadership structure”, former Argentine rugby great Gus Pichot will assume the role of CEO Growth and Energy from July 1, and will be responsible for the developing the pipeline of green energy development and growth projects.
That effectively means he will be responsible for developing the pipeline of projects, while Fortescue Metals CEO Dino Otranto will take expand his role to include operational responsibility for global electrification and decarbonisation, and the production of hydrogen products.
Ellie Coates remains as head of Fortescue Zero, responsible for the development of new technology such as EV power systems and chargers. She has been in that role since December.
Pichot has been with Fortescue since 2018, and has been head of its Latin America operations, and has recently led a review of the company’s global project portfolio. He has previously established a highly successful sports media business called Pegsa.
“Fortescue has a clear and resolute vision to eliminate emissions and decarbonise profitably,” Pichot said in a statement.
“In this unstable market where most others are wavering, the world is replete with opportunities. We are seizing on this instability to grow and harness new innovations emerging in green metals, energy and technology.”
Forrest says Hutchinson will continue to support Fortescue in a global marketing capacity for the next year, serving as senior adviser to the Board. He said Robertson is retiring from her executive role to pursue non-executive director opportunities.
