Freeport-McMoRan names Kathleen Quirk as CEO

Freeport-McMoRan (NYSE: FCX) has announced its longstanding chief financial officer, Kathleen Quirk, will become the copper, gold and molybdenum miner’s president and CEO, effective as of June 11.

Quirk will assume full responsibility for executive management of the business reporting to the board, while current president and CEO Richard Adkerson will remain chairman, supporting the leadership transition, the company said. The transition will happen at the company’s next annual meeting.

Freeport’s board has been looking to identify a successor to Adkerson, who has held the top spot since 2003 and was last year inducted into the National Mining Hall of Fame. 

Quirk joined the Phoenix-headquartered company in 1989 and had responsibility for a range of corporate functions, including tax, investor relations, corporate development and treasury before being named CFO in 2003. She was named president in 2021 and became a director in 2023. Quirk is a graduate of Louisiana State University.

“Kathleen has earned the respect of the board, the Freeport organization and external stakeholders through her track record of accomplishment, proven leadership and mission for value creation for all stakeholders,” Dusty McCoy, lead independent director said in a statement. “Through her 35‐year career with the company, she has broad knowledge of Freeport’s business and operations, its people and culture, and is highly qualified to lead Freeport as CEO.”

 “The board is grateful to Richard for his outstanding leadership as CEO and for his vision and execution to position our company so positively for the future,” Mc Coy said.

“Serving as CEO of Freeport for over 20 years has been an honor,” Adkerson said. “I value my strong bond with our stakeholders — our employees, investors, industry executives, community partners and government officials — all of whom are critical to the success of our company and our industry.”