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BREAKING:

HONDA TO SET UP $15B EV PRODUCTION BASE IN CANADA

Automaker to get up to $5B in government assistance for EV battery, assembly plants

UPDATE 1-Australia's Fortescue says CEO Elizabeth Gaines to step down

Reuters
·1 min read

(Adds details)

Dec 10 (Reuters) - Fortescue Metals Group Ltd said on Friday its Chief Executive Officer Elizabeth Gaines would transition out of the top job, as the miner moves from a pure play iron ore producer to a diversified renewable energy and resources company.

Gaines, who has led the Australian company for the last four years, will remain on Fortescue's board as a non-executive director and assist in the search for her successor, the company said.

Fortescue's board has started a global search to identify a new CEO and other leaders with "global experience across heavy industry, manufacturing, and renewable energy," it said in a statement. (Reporting by Shashwat Awasthi; Editing by Rashmi Aich)