BHP Billiton announced changes to its senior management team:
Mr. Vanselow, who has decided to pursue personal business interests, joined the Company in 1989 and was appointed Chief Financial Officer in 2006.
BHP Billiton Chief Executive Officer, Marius Kloppers, said both the Board and the entire executive team extended their thanks to Mr. Vanselow and acknowledged his significant contribution.
"Alex has served the Company with distinction over many years and in particular during his time as the Company's Chief Financial Officer and as a key member of my management team. We will miss his wise counsel, but we understand his decision to pursue other
Mr. Vanselow will remain with BHP Billiton until the end of February 2012 to ensure a smooth transition to his successor, Graham Kerr. Mr. Kerr will join the Group Management Committee immediately, and will officially assume the role of Chief Financial Officer from
Mr. Kerr joined what was then BHP in 1994. He served in a wide range of finance and treasury roles before departing BHP Billiton at the end of 2004 for a brief stint in another resources company. He rejoined BHP Billiton in 2006, and until recently was President of the Diamonds and Speciality Products Customer Sector Group based in Vancouver, Canada.
BHP Billiton's President of Marketing, Mike Henry, will join the enlarged Group Management Committee as Group Executive and Chief Marketing Officer, reporting to the Chief Executive Officer, effective immediately. He will continue to be based in Singapore.
Mr. Henry joined BHP Billiton in 2003 from Mitsubishi Corporation, where he served in a variety of commercial roles. He was appointed President of Marketing in 2010. Prior to that appointment he had responsibility for the marketing of a variety of commodities including
Mr. Kloppers welcomed both appointments to the Group Management Committee.
"Graham and Mike have made outstanding contributions to our organisation in a variety of roles and the senior leadership group welcomes them to the Group Management Committee."
The termination arrangements for Alex Vanselow are consistent with the Group's long established policy. Awards previously made to Mr. Vanselow under the five year long term incentive plan will be pro-rated (reduced) to reflect his period of service from the date of grant to the date of departure. Those awards must be held for the duration of the performance period and will only vest if the performance hurdles are satisfied. No award will be made to Mr. Vanselow in respect of FY2012.
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