Original article by Paul Garvey
The Australian – Page: 19 : 16-Feb-18
Fortescue Metals Group has slashed its gross debt and ramped up iron ore production since Nev Power became CEO in mid-2011. Production costs have also been reduced from an average of $US53.23 per tonne to $US12.08. Power will step down as CEO on 16 February, and he has flagged the likelihood of taking on a number of directorships in his post-Fortescue career. However, Power doubts that he will accept another full-time executive position, and he has ruled out a career in politics.
FORTESCUE METALS GROUP LIMITED – ASX FMG, CREDIT SUISSE AG, JP MORGAN AND COMPANY INCORPORATED, BANK OF AMERICA CORPORATION, DEUTSCHE BANK AG, ANGLO AMERICAN PLC