BHP Appoints Ross McEwan as Chairman

BHP announced that former National Australia Bank (NAB) CEO Ross McEwan will assume the role of chairman, succeeding Ken MacKenzie, who will step down on March 31. McEwan, a non-executive director at BHP since April 2024, previously led NAB and Royal Bank of Scotland.

McEwan's tenure comes at a time when BHP faces key decisions, including selecting a new CEO to replace Mike Henry, who is entering his fifth year in the role. He may also weigh whether to revive BHP’s bid for Anglo American, following the company’s unsuccessful $49 billion offer last year.

With a background in banking, McEwan took charge at NAB in 2019 following a royal commission inquiry into business practices and was credited with restoring investor confidence through a simplification program. He also holds directorships at QinetiQ Group and Reece.

MacKenzie departs after nine years with BHP, including eight as chairman. During his tenure, he oversaw the company’s recovery from the Samarco dam disaster in Brazil, a corporate unification to a single Australian listing, and approvals for investments in Canadian potash. Under his leadership, BHP made a failed bid for Anglo American and moved toward gender equity in its workforce.

While MacKenzie stated at BHP’s annual general meeting in October that the company had "moved on" from its pursuit of Anglo, a later regulatory filing suggested a more open stance. Some investors believe his departure reduces the likelihood of another takeover attempt.