Freeport-McMoran Inc (FCX) appointed Kathleen L. Quirk as President and Chief Executive Officer (CEO) to replace Richard C. Adkerson.
This decision was announced on February 6, 2024, as reported by Freeport-McMoran's official website, effective at the annual shareholders meeting on June 11, 2024.
Richard C. Adkerson will remain Chairman of the Board of Directors to support Freeport's leadership and business transition on strategic matters of importance to the company.
Independent CEO Dusty McCoy said the company has been discussing the successor to Richard C. Adkerson for some time.
Kathleen's 35-year track record within the company is considered to be one of her strengths.
"During her 35-year career with the company, she has extensive knowledge of Freeport's business and operations, its human resources and culture, and is highly qualified to lead Freeport as CEO," McCoy said, quoted on Sunday (11/2). The board thanked Richard for his 20 years of leadership, McCoy continued.
Richard is recognized for establishing Freeport as a global leader in the copper industry, creating value for stakeholders, and building a strong organization and high-performance culture.
"Richard's continued commitment in supporting the company on the global issues of strategic importance to Freeport and the copper industry will continue to provide significant value," McCoy added.
Kathleen joined Freeport in 1989 and was responsible for various corporate functions, including Tax, Investor Relations, Corporate Development, and Treasury, before being named Chief Financial Officer in 2003.
Kathleen was appointed President of FCX in 2021 and became a member of the Board of Directors in 2023. As a senior member of the company's executive team for more than 20 years, Kathleen has been instrumental in Freeport's strategic planning and execution of corporate objectives.
Kathleen expressed that she is excited to lead FCX with the support of the highly talented global team that is committed to the company's mission of providing copper and other metals necessary for life and the global economy responsibly and efficiently.
"I look forward to continuing to enhance value for our stakeholders through the execution of our robust plan and the application of innovation and new technologies to improve efficiency and grow our business through expanding our large resource base to serve an ever-widening market for our products," Kathleen said.
Meanwhile, Richard expressed his gratitude for the chance to lead Freeport for the past 20 years. While appreciating the team’s performance, Richard supported Kathleen's appointment as the new CEO.
"Kathleen's strong and strategic business sense and increasing responsibilities over the years have demonstrated that she has the skills to lead our company and continue Freeport's tradition of excellence," Richard concluded.
Image source: Ilustrasi KONTAN
