Sixth Fortescue executive quits in less than a year

Fortescue‘s (ASX: FMG) global growth director, Julie Shuttleworth, has become the sixth senior executive to leave the company in less than a year, after spending more than a decade at the Australian iron ore-to-hydrogen firm.

Shuttleworth was a key member of chief executive and founder Andres Forrest’s team. She initially served as the CEO of the green energy division, when it was first established as Fortescue Future Industries. 

More recently, she was deputy CEO at Fortescue, a position created to ensure the company had strong mining expertise at the highest levels, when Elizabeth Gaines took on the role of top boss. 

Shuttleworth, who also oversaw mining operations in Africa, is said to have left Fortescue to spend more time with her family, according to an interview with the Australian Financial Review. 

Shuttleworth resignation follows Michael Gunner’s, senior executive in the energy arm, in February. Gunner quit just days after Deborah Caudle, the chief financial officer of the same business.

The rapid succession of executives became clear last August, when Fortescue’s CEO at the time, Fiona Hick, quit after less than six months on the post. Her exit was followed by a series of others, including former chief financial officer of the metals division, Christine Morris, who lasted less than three months on the role.

The departure of senior members from Forrester’s team has raised concerns among certain investors regarding the billionaire’s leadership style and the extent of his aspirations to transition an iron ore miner into a supplier of clean fuel.