Energy boss Mark Hutchinson demoted, COO Shelley Robertson out, rugby boss in amid Fortescue C-suite overhaul

Fortescue energy boss Mark Hutchinson will be switched out for an ex-rugby captain who Andrew Forrest says is ready to handle the “turbulent but opportune times” the WA-founded business is wading into. Fortescue told the ASX late on Thursday that Mr Hutchinson would be retiring as CEO of its energy business, amid a raft of other leadership changes to the company’s C-Suite. The former General Electric executive has led Fortescue’s new energy efforts since 2022 and had been in the middle of a review on expected timelines for the group’s hydrogen and ammonia ventures across the globe. Following the announcement Mr Forrest said “Hutch” — as he’s known within Fortescue — had made his own call to retire. “Hutch retires at a time of his choosing with the full support of the board, having encouraged a successor who is exactly suited to the turbulent but highly, replete with opportune times we’re going into.” Mr Hutchinson — who will shift to a board advisory role — was ushered in three years ago almost to the date in a leadership reshuffle that saw Andrew Forrest appoint himself boss of the iron ore business following the departure of Elizabeth Gaines. The rate of executive churn at Fortescue and the Forrest empire’s private companies that followed in the year following was closely-watched and well-publicised. Mr Hutchinson will be replaced by Augustin (Gus) Pichot who will be promoted as of July 1 to oversee the company’s green energy and growth projects. The Argentine rugby talisman has been leading Fortescue’s operations in Latin America since 2018, and takes over a division spending billions to break into green hydrogen and ammonia. A change of administration in the US, high electricity costs in Australia and hurdles in producing green fuel at a commercial rate have held back Fortescue’s huge energy ambitions first revealed back in 2020. Fortescue earlier this month offered redundancies to 90 staff within its hydrogen business in Perth and Queensland, while putting its Gladstone electrolyser facility on ice. The company has nonetheless affirmed it is resolutely committed to its goals. Meanwhile chief operating officer Shelley Robertson — who joined less than two years ago — will exit the business entirely to pursue non-executive director opportunities. She had led Mineral Resources’ energy business for four years prior to her role with Fortescue. Mr Forrest said energy chief Mark Hutchinson and exiting chief operating officer Shelley Robertson had been instrumental in setting up the company for success. “We thank Mark and Shelley for their valuable efforts since joining Fortescue.” Dino Otranto, who has served as the miner’s iron ore chief executive for nearly two years, will have his remit expanded to include electrification and decarbonisation. Alongside looming targets to achieve “real zero” emissions by 2030, he’ll be charged with Fortescue’s advances into producing green iron. Its lead project on this front is its Christmas Creek hub in the Pilbara, where a hydrogen-powered plant capable of converting iron ore into a “near zero emissions” precursor metal for steelmaking is due to be completed later this year.