Freeport-McMoRan Announces Appointment of Senior Vice President and Chief Financial Officer

Rhea-AI Summary

Freeport-McMoRan (NYSE: FCX) has appointed Maree E. Robertson as the new Senior Vice President and Chief Financial Officer, effective March 1, 2022. Maree will oversee accounting, finance, and tax functions while reporting to Kathleen L. Quirk, the current President and CFO. With a solid background in international mining from Rio Tinto and BHP Group, Maree brings vast experience to the role. The company anticipates that her expertise will enhance stakeholder value and drive financial performance.

Positive

• Appointment of Maree E. Robertson as CFO expected to enhance leadership with significant mining experience.
• Maree's financial background and international experience from Rio Tinto and BHP could positively impact FCX's operational strategies.

Negative

• Transitioning leadership may introduce challenges in continuity and adaptation within the finance organization.

Maree E. Robertson

PHOENIX--(BUSINESS WIRE)-- Freeport-McMoRan Inc. (NYSE: FCX) announced today the appointment of Maree E. Robertson as Senior Vice President and Chief Financial Officer effective March 1, 2022.

Maree E. Robertson (Photo: Business Wire)

In this role, Maree will assume responsibility for FCX’s accounting, finance and tax functions, including financial reporting, operational accounting, internal controls, financial planning and analysis, treasury and risk management. Maree will report to Kathleen L. Quirk, who has served as Chief Financial Officer since 2003, and was appointed to an expanded role of President in February 2021.

Ms. Robertson, age 46, served as Chief Financial Officer, Energy and Minerals of Rio Tinto Group, a multinational metals and mining company, since 2019. Prior to joining Rio Tinto, Ms. Robertson had a 17-year career at BHP Group, a multinational natural resources company, serving in a broad range of international finance functions, including Vice President, Finance, Petroleum USA; Head of Finance, Conventional and Potash, Petroleum USA; Vice President, Finance, Potash Canada; and Vice President, Finance, Minera Escondida Ltda. Ms. Robertson joined BHP in 2002 after four years in the PricewaterhouseCoopers natural resource audit practice. Ms. Robertson holds a Bachelor of Commerce from the University of Melbourne and is a Chartered Accountant.

Richard C. Adkerson, Chairman and Chief Executive Officer, said: “We are pleased to welcome Maree to the FCX organization. She brings significant international mining experience, a strong financial background in the sector and a drive for creating value for all stakeholders. She will be a great addition to our team of talented and proven financial professionals.”

Kathleen L. Quirk, President, said: “Maree is an excellent choice to lead our finance organization. Her team-oriented approach to work, value focus, and deep knowledge of our industry make her a great cultural fit within our organization. She will join an outstanding and experienced finance team committed to our company’s ongoing success.”

FREEPORT: Foremost in Copper

FCX is a leading international mining company with headquarters in Phoenix, Arizona. FCX operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum. FCX is one of the world’s largest publicly traded copper producers.

FCX’s portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world’s largest copper and gold deposits; and significant mining operations in North America and South America, including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru.

By supplying responsibly produced copper, FCX is proud to be a positive contributor to the world well beyond its operational boundaries. Additional information about FCX is available on FCX's website at fcx.com.

Cautionary Statement Regarding Forward-Looking Statements: This press release contains forward-looking statements, which are all statements other than statements of historical facts. FCX cautions readers that forward-looking statements are not guarantees of future performance and actual results may differ materially from those anticipated, expected, projected or assumed in the forward-looking statements. Important factors that can cause FCX's actual results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, the factors described in more detail under the heading “Risk Factors” in FCX's Annual Report on Form 10-K for the year ended December 31, 2020, filed with the U.S. Securities and Exchange Commission (SEC).

Investors are cautioned that many of the assumptions on which FCX's forward-looking statements are based are likely to change after the date the forward-looking statements are made, including for example commodity prices, which FCX cannot control, and production volumes and costs, some aspects of which FCX may not be able to control. Further, FCX may make changes to its business plans that could affect its results. FCX cautions investors that it undertakes no obligation to update forward-looking statements, which speak only as of the date made, notwithstanding any changes in its assumptions, changes in business plans, actual experience or other changes.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211102005748/en/

Financial Contacts:

Kathleen L. Quirk

(602) 366-8016

David P. Joint

(504) 582-4203

Media Contact:

Linda S. Hayes

(602) 366-7824

Source: Freeport-McMoRan Inc.

FAQ

Who is Maree E. Robertson and what is her role at Freeport-McMoRan?

Maree E. Robertson is the newly appointed Senior Vice President and Chief Financial Officer at Freeport-McMoRan, effective March 1, 2022, overseeing accounting, finance, and tax functions.

What previous experience does Maree E. Robertson bring to FCX?

Maree has a strong financial background in the mining sector, having served as CFO at Rio Tinto and held various finance roles at BHP Group.

How might Maree E. Robertson's appointment impact Freeport-McMoRan's financial performance?

Her appointment is expected to enhance financial strategies and stakeholder value, leveraging her extensive experience in the mining industry.