Shares in Anglo-Australian mining giant BHP Billiton plunged today after the group announced the sudden resignation of its chief executive, Brian Gilbertson, citing 'irreconcilable differences' with directors.
Gilbertson was replaced by Chip Goodyear, 44, who joined BHP in 1999 as its chief financial officer and became chief development officer when BHP merged with Britain's Billiton in June 2001.
The world's largest diversified mining company said in a statement that Gilbertson had resigned both as CEO and as a director 'due to irreconcilable differences with the boards' of the Australian and British arms of the company. Group spokesman Michael Buzzard said the board remained united and there were no plans for a change in the group's strategic direction.
Gilbertson had been CEO of Billiton prior to the merger and took over at BHP Billiton when former BHP chief Paul Anderson retired as CEO of the merged group in mid-2002.
Goodyear, a US national, was as chief development officer responsible for overseeing BHP Billiton's portfolio management activities worldwide and its development strategy.
