CSL finance chief David Lamont heads back to BHP

BHP has tapped CSL finance boss David Lamont to replace Peter Beaven as its chief finance officer.

CSL chief financial officer David Lamont is leaving the company to head back to BHP.

BHP chief executive Mike Henry has made the surprise decision to look outside the company’s own ranks for a new chief financial ­officer for the first time this century, tapping CSL finance boss David Lamont to replace Peter Beaven as CFO from December.

Mr Lamont returns to BHP after an absence of 14 years, having served as the finance boss of biotechnology major CSL since 2016. He was an executive director and CFO at MMG from 2010, and has also run the finances of OZ Minerals, PaperlinX and Incitec Pivot.

He served as a senior executive with BHP from 2001 to 2006, including roles as CFO of its carbon steel materials division, energy coal and vice-president com­mercial for BHP Transport & Logistics.

Mr Lamont will join BHP in December, replacing Mr Beaven, who will remain with BHP until next year as part of the transition arrangements.

Mr Henry said his new finance boss brought a “broad global experience across a diverse range of industries, including mining, deep financial knowledge and a clear focus on delivering strong results for the company and shareholders”.

“I want to thank Peter Beaven for both the significant contribution he has made to BHP and the support and friendship he has shown me over many years. His leadership, passion for continuous improvement and strategic approach have made BHP safer, more sustainable and more valuable,” Mr Henry said.

“Having decided to pursue his own personal ambitions, Peter committed last financial year to support BHP through the transition from Andrew Mackenzie to a new CEO. His support has been invaluable to me as I have transitioned into the role.”

Mr Lamont is the second major appointment made by BHP since Mr Henry took charge of the company, after former iron ore boss Edgar Basto was appointed to Mr Henry’s former role as the head of Minerals Australia.

BHP did not disclose the pay package it offered to attract Mr Lamont, with an indication of his starting salary and benefits not likely to come until the annual shareholder report later this year.

CSL said it had already begun a global search for Mr Lamont’s replacement and has confirmed the role will continue to be based in Australia. He will leave the company on October 30.

Most recently, Mr Lamont was acting as one of the executive spokesmen for CSL, which overtook Commonwealth Bank as the biggest company on the stock exchange in February, if BHP’s London listed shares are excluded.

During his four years at CSL, Mr Lamont oversaw a transformation of its finance function during a period of significant growth for the company.

CSL chief executive Paul Perreault said Mr Lamont was influential on several important projects, including reshaping the company’s enterprise resource planning, which uses software to centralise financial management across all businesses units, saving costs.

Mr Lamont’s departure comes as CSL is at the forefront of the global battle to combat the COVID-19 pandemic. CSL this month struck a partnership with the Oslo-based, and Bill Gates-backed Coalition for Epidemic Preparedness Innovations and University of Queensland to fast-track the ­development of a COVID-19 ­vaccine.