Executive exodus continues from Forrest’s Fortescue as GM of operations planning heads for exit

The departure of general manager of operations planning Andrew O’Dowd adds to the picture of the turmoil at the company over the past few years.

Fiona Hick and Fortescue chair Andrew Forrest. Picture: Frances Andrijich

Fortescue Metals Group has lost more senior executives from the mining side of its business in the wake of the sudden departure of chief executive Fiona Hick and chief financial officer Christine Morris.

The Australian understands the company’s general manager of operations planning, Andrew O’Dowd, left the company last week.

His departure is not believed to be related to the shock resignations of Ms Hick or Ms Morris, but adds to the picture of extraordinary turmoil at the company over the last few years, with the departure of at least a dozen members of Fortescue’s executive leadership team – and substantially more senior operational managers.

Mr O’Dowd has been in charge of Fortescue’s operations planning for about 18 months, and held a senior role in the company’s mine planning team since 2019, in his second stint at the iron ore major.

While his exit is not believed to be related to the recent upheaval at Fortescue, he would have been a direct report to chief operating officer Dino Otranto – elevated last week to chief executive of Fortescue’s mining arm.

Speaking to the Australian last week, Fortescue chair Andrew Forrest denied responsibility for the rapid turnover at the senior ranks of the company he founded, saying some new recruits had struggled in the “boiler room” environment at the company, but left the company with its best wishes if they were not a good fit.

Speaking to analysts after Fortescue delivered its annual financial results last week, Mr Otranto said turnover in the company’s operational leadership team was “very, very low” by industry standards.

“Reporting of executive turnover started out in 18 months to two years ago, and we haven’t missed a beat – in fact, we’ve probably gone above what people ever thought was possible,” he said.

But while Fortescue has posted export records over the period, industry sources also point to the major delays and cost blowouts suffered by the company at its Iron Bridge magnetite project, which came in $US1.4bn over its initial budget, and more than a year late – with ramp up still continuing in a sign the turmoil at the company has affected its operational capability.

Fortescue has blamed the blowouts and delays on the impact of the Covid-19 pandemic and tight supply chains.

Mr Forrest’s private business arm, Tattarang, has also lost two senior executives – including the expected departure of former Mincor Resources chief executive Gabrielle Iwanow, and the resignation of Joost Heymeijer, chief executive of Tattarang’s hospitality and lifestyle arm, Z1Z, which includes the Gaia Retreat in Byron Bay and Cape Lodge in Western Australia and Lizard Island in northern Queensland.

Mr Heymeijer joined Tattarning in June 2022.

In a post on LinkedIn, he said a “change of direction” by the company’s owners – Andrew and Nicola Forrest – had triggered his departure. “Sometimes things don’t always work out … and then it is time to move on!” he said.

Mincor was taken over by Mr Forrest’s Wyloo Metals this year, and Ms Iwanov stayed with the company as it integrated the company’s Kambalda operations.

She will part ways with the company at the end of the month.

Wyloo Metals CEO Luca Giacovazzi said former Rio Tinto executive Steve Price, the former general manager of underground mining at Oyu Tolgoi, would run its Kambalda operations.

Originally published as Executive exodus continues from Forrest’s Fortescue as GM of operations planning heads for exit