BHP Group Ltd (ASX: BHP) shares are rising on Friday morning.
In early trade, the mining giant’s shares are up 0.5% to $44.16.
Why are BHP shares rising?
Today’s gain appears to have been driven largely by a positive showing on Wall Street overnight for its NYSE listed shares.
In addition, there has been some news out of the miner this morning which may have gone down well with investors.
Given its size and prestige, the Big Australian has historically been able to attract high quality names to its board.
This remains the case today, with the company announcing the addition of the CEO of a big four bank to its boardroom.
Who has been appointed?
According to the release, National Australia Bank Ltd (ASX: NAB) CEO Ross McEwan CBE will join BHP as a non-executive director with effect from 3 April 2024.
This coincides with McEwan’s exit from NAB on 2 April when he will be replaced by Andrew Irvine.
BHP highlights that NAB’s outgoing CEO has significant executive experience, including in the financial services industry, with expertise in capital allocation, risk management, and complex regulatory environments.
As well as being the CEO of NAB from 2019 to April 2024, he was group CEO of the Royal Bank of Scotland from 2013 to 2019, and held executive roles at Commonwealth Bank of Australia (ASX: CBA).
Commenting on the appointment, BHP’s chair, Ken MacKenzie, said:
We are delighted to announce that Ross McEwan will join BHP. Ross brings a strong focus on people and culture, technology and innovation and has deep experience in capital allocation and value creation. Ross has worked closely with a wide range of stakeholders, including customers, governments and regulators and brings a global perspective. He has a deep understanding of organisational transformation and brings a very strong focus on the customer and technology as a driver of change. We look forward to welcoming Ross to the Board on 3 April 2024.
The post Own BHP shares? Guess which star CEO just joined your board appeared first on The Motley Fool Australia.
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More reading
- One ASX mining sector at risk of more pain, and one ready to soar!
- How global job cuts could boost the BHP share price
- How come the NAB share price is still 26% below its all-time high?
- Why is the BHP share price trailing the ASX 200 on Tuesday?
- Here’s the BHP dividend forecast through to 2026
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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