Mega-market cap (US$57.6B) copper miner, Freeport-McMoRan (NYSE: FCX), has announced that Kathleen Quirk will be taking over as the president and CEO, with her tenure commencing from the shareholders’ annual meeting scheduled for 11 June 2024.
Quirk will be fully in charge of the company’s executive management, reporting directly to the FCX board of directors. Meanwhile, Richard Adkerson will continue his role as chairman, aiding in a smooth transition.
The board of Freeport has been on the lookout for a suitable successor to Adkerson, who has been at the helm of the company since 2003 and was honoured with an induction into the National Mining Hall of Fame last year.
Quirk has been a part of Freeport since 1989, overseeing various corporate functions such as tax, investor relations, corporate development, and the treasury. She was promoted to the position of CFO in 2003 and was appointed president of FCX in 2021. She joined the board in 2023. Quirk is an alumnus of Louisiana State University.
Dusty McCoy, the lead independent director of the board, praised Quirk in a statement, acknowledging her accomplishments, proven leadership skills, and commitment to creating value for stakeholders. He highlighted her extensive 35-year career with the company, during which she gained a comprehensive understanding of Freeport’s business, operations, and culture, making her an ideal candidate for the CEO role.
Adkerson expressed his gratitude for having served as the CEO of Freeport for over two decades. He emphasized his deep connection with the company’s stakeholders, including employees, investors, industry executives, community partners, and government officials, all of whom play a crucial role in the company’s success.
