...just how serious they are about Mumbwa.I wonder if Kloppers...

...just how serious they are about Mumbwa.I wonder if Kloppers has had much to do with any of it.

BHP Billiton ends search for new chief
By Raphael Minder in Sydney

Published: May 31 2007 01:21 | Last updated: May 31 2007 01:21

BHP Billiton, the world’s largest mining company, ended on Thursday its search for a new chief executive by appointing Marius Kloppers, one of its directors, to the top job.

South African-born Mr Kloppers will replace Charles ‘Chip’ Goodyear, who announced in February that he wanted to retire and will now quit at the end of September. Mr Kloppers has been heading the company’s non-ferrous materials division and was seen as one of the leading candidates for the job.

The appointment comes amid rapid consolidation in the sector and a worldwide boom in commodities on the back of rising demand from China. Earlier this month, Alcan rejected a $27bn hostile offer from Alcoa, a leading US rival, which would have created the world’s largest aluminium company.

BHP, which itself leap-frogged rivals by merging with Billiton in 2001, has recently been linked to several possible takeover attempts, including a potential tie-up with Rio Tinto, its biggest competitor in Australia.

Don Argus, chairman of BHP, said: ”We are in a time of considerable change in our industry with the emergence of new markets and sources of supply.’’

Mr Argus said the new chief executive had ”an excellent strategic mind and delivers on his commitments.”

Mr Argus had previously indicated that the company was looking at an internal replacement for Mr Goodyear, but would benchmark any candidate against external possible rivals for the job.

Mr Kloppers, who is 44, joined the company in 1993 after a stint as a consultant with McKinsey, the management consultancy. He described his appointment as “an extraordinary opportunity.”

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