The Rising Influence of Rising Affluence

[DewDiligence]

BHP’s CEO, Marius Kloppers, is “retiring”:

http://online.wsj.com/article/SB10001424127887324449104578314553299771428.html

Although BHP said in November it was looking for a replacement for Mr. Kloppers, who has been its CEO since 2007, the change was sooner than many in the industry expected. South Africa-born Mr. Kloppers has been criticized for failed acquisitions attempts, including a bid for rival Rio Tinto PLC, and hefty write-downs including U.S. shale gas and Australian nickel assets.

Inasmuch as Kloppers is only 50 and the incoming CEO is 56, I’d say it’s reasonable to surmise that this was a firing.

The announcement on the CEO change was made in conjunction with BHP’s FY1H13 financial results.

BHP’s shale-gas acquisitions—and write-offs—were discussed on this board in #msg-78203053.