The Fortescue Ltd (ASX: FMG) share price is up 0.73% after the ASX mining share reported an addition to its leadership team that was described as "invaluable".
Fortescue has seen a number of leadership fires exit across the business over the past few years, so bringing in new high-quality individuals is an important move.
This new individual joins the ASX mining share's board of directors as a non-executive director.
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New board member
Fortescue announced to the ASX that Noel Quinn will join the Fortescue board as a non-executive director, subject to completion of the regulatory process.
Quinn has 37 years of banking experience across a range of financial services, with the majority of his career in corporate banking and capital markets.
His most recent role was as the group chief executive of HSBC, and before that, he was the chief executive of HSBC's global commercial banking division. As CEO, Quinn was involved in several industry-wide initiatives to facilitate public and private sector financing for large infrastructure projects, particularly sustainable infrastructure.
Leadership commentary
The Fortescue executive chair, Andrew Forrest, explained why Quinn is a very useful addition to the ASX mining share's board of directors:
Noel is a highly respected leader who brings a wealth of international expertise and experience in finance and capital markets. His deep understanding of the complexities of the global financial landscape will be invaluable as Fortescue continues to diversify into new markets and grow as a green technology, energy and metals group
Quinn talked about why he was attracted to join Fortescue during this period of its journey:
I am honoured to be joining the Fortescue Board at a time when the Company is pursuing its ambitious Real Zero journey, leading the way for industry to decarbonise and transition to a fossil fuel-free future. I look forward to bringing my experience in global banking to assist the Company in achieving its long-term growth objectives and continuing to deliver on shareholder value.
Green efforts
The business is looking to decarbonise its mining operations, not just offset its emissions. A large part of that involves transitioning away from its diesel mining fleet. It recently signed a contract to purchase over 100 pieces of zero-emission heavy mobile equipment from XCMG.
It's also working on developing a portfolio of green energy projects. The Holmaneset project in Norway and the Pecem project in Brazil continue to progress with feasibility studies and planning approvals. Other projects are also being considered and worked on.
Fortescue share price snapshot
Since the start of 2025, the Fortescue share price is up 5.5%, as shown on the chart below. The ASX mining share plans to report its FY25 half-year results on 20 February 2025.
