TIDMBLT
RNS Number : 7195O
BHP Billiton PLC
22 August 2017
NEWS RELEASE
Release Time IMMEDIATE
Date 23 August 2017
Location Melbourne, Australia
Release Number 24/17
BHP Board Changes
BHP Chairman, Jac Nasser, today announced the appointment of
Terry Bowen and John Mogford to the BHP Board as independent
Non-executive Directors, effective 1 October 2017.
Mr Bowen has over 25 years of strategic, operational and
financial experience across a range of sectors. He has been the
Finance Director of Wesfarmers Limited for the past eight years.
(He will retire from that position towards the end of this calendar
year.) During his time as Finance Director of Wesfarmers, Mr Bowen
has been responsible for the disciplined allocation of capital
among its 38 businesses across different industries. Mr Bowen has
also had extensive experience transforming and operating businesses
in the Wesfarmers structure, with a focus on improved cashflow and
cost efficiency.
Mr Mogford has over 40 years of experience in the oil and gas
sector, including 33 years at BP Plc in technical, operational and
leadership roles. While at BP, Mr Mogford acquired deep experience
across the oil and gas business, working in the areas of
exploration, downstream, upstream, safety and technology. Mr
Mogford also has private equity and strategic experience in the
energy sector, holding the roles of Managing Director and Operating
Partner at First Reserve Corporation from 2009 to 2015, and as a
Senior Advisor to the Head of the Oil and Gas Practice at Nomura
Investment Bank from 2010 to 2013.
Mr Nasser said that both appointments would be excellent
additions to the BHP Board. "The appointments are the outcome of
our structured and robust approach to Board succession, and are
based on a five year planning outlook, consideration of the skills,
experience and attributes required to effectively govern the
business, and exhaustive global searches for suitable
candidates.
Terry has extensive operational, strategic and capital
allocation experience, across a range of industries, gained through
his role at Wesfarmers and prior roles. John has deep operational
and technical oil and gas experience. He has successfully managed
large and complex projects and operations, has an in-depth
understanding of global markets through the cycle, and has private
equity and strategic experience in the energy sector.
Terry and John will make significant contributions to the BHP
Board, supplementing and enhancing the current skills and
experience of the other Directors."
Mr Nasser also announced today that, given his involvement in
ongoing legal proceedings in Italy relating to his prior employment
with Shell, Malcolm Brinded has decided not to stand for
re-election as a Non-executive Director at the 2017 Annual General
Meetings of BHP, with 18 October 2017 to be Mr Brinded's final day
on the Board of BHP. Mr Nasser said "Malcolm has been an active and
engaged member of the Board since he joined in April 2014. He has
made an outstanding contribution to BHP during his tenure, and the
Board looks forward to the time when Malcolm will be able to
recommence his service on the Board of BHP."
In addition, owing to concerns expressed by some investors,
Grant King has decided that he will not stand for election at the
2017 Annual General Meetings of BHP, and will retire from the Board
on 31 August 2017. Mr Nasser thanked Mr King for his service to
BHP, and expressed regret that Mr King would not be remaining on
the Board. "Grant brought a valuable set of skills to the Board,
having created significant long-term value as a long-time public
company CEO. His experience managing through challenging industry
dynamics and a complex regulatory environment, as well as his deep
understanding of oil and gas, were beneficial in Board discussions,
and will be missed. I wish Grant the very best for the future."
Terry Bowen
Mr Bowen, 50, has served as Finance Director of Wesfarmers
Limited since 2009. He has held various roles at Wesfarmers,
including as Chief Financial Officer of Wesfarmers Landmark at the
time of its sale to AWB Limited in 2003, Managing Director of
Wesfarmers Industrial and Safety, Finance Director of Coles and
Chairman of Officeworks. He will retire from his positions with the
Wesfarmers group towards the end of this calendar year.
Between 2003 and 2005, Mr Bowen served as the inaugural Chief
Financial Officer for Jetstar Airways Pty Ltd.
Mr Bowen is Chairman of the West Australian Opera Company and on
the Board of the West Coast Eagles Football Club. He is also a
member of the Curtin Business School Advisory Council.
Mr Bowen has a Bachelor of Accounting from the University of
South Australia and is a Fellow of Certified Practising Accountants
Australia.
John Mogford
Mr Mogford, 64, has over 40 years' experience in the oil and gas
industry. From 2009 to 2015, he held the positions of Managing
Director and Operating Partner at First Reserve Corporation. Mr
Mogford was a non-executive director of Midstates Petroleum Company
Inc. from 2011 to 2016 and of CHC Group Ltd from 2012 to 2015. He
was also a Senior Advisor to the Head of the Global Oil and Gas
Practice at Nomura Investment Bank from 2010 to 2013.
From 1977 to 2009, Mr Mogford held various leadership, technical
and operational roles at BP Plc, including as Chief Operating
Officer and Executive Vice President of Downstream, Refining and
Safety & Operations.
Mr Mogford is a non-executive director of Weir Group Plc, ERM
Worldwide Group Limited and DOF Subsea AS.
Mr Mogford has a Bachelor of Engineering from the University of
Sheffield and is a Fellow of the Institute of Mechanical Engineers
UK.
Further information on BHP can be found at: bhp.com
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