The “Big Australian” is getting a new boss.
Brandon Craig will become the chief executive of BHP on July 1, replacing Mike Henry, who will step down after six and a half years in the role.
Craig is currently BHP’s president for the Americas, leading its growth strategy in future-facing commodities across Canada, the United States, and South America.
He previously led BHP’s Western Australian iron ore business, with BHP crediting him on Wednesday with improving operational performance and increasing its lead as the lowest-cost, highest-margin major iron ore producer in the world.
“It is an honour and a privilege to succeed Mike Henry as CEO of BHP,” said Craig, who has been with BHP since 1999.
“I look forward to continuing to take this great company forward.”
Craig will receive a base salary of US$1.9 million ($2.7 million), with the potential to make a maximum of US$12.5 million ($17 million) a year from bonuses.
Meanwhile, Henry will continue to provide support Craig through until Nov. 30.
He said it had been a privilege to serve as CEO of BHP and to have worked with so many talented people.
Under Henry’s leadership, BHP sold off its petroleum business to Woodside Energy, unified its dual-listed structure, and strengthened its copper exposure.
RBC Capital Markets analyst Kaan Peker said the appointment was a positive for the company, describing Craig as a long-tenured BHP executive with deep operational experience across both iron ore and copper.
