Fortescue executive director Elizabeth Gaines exits board, Sigrid Kaag appointed

The news: Elizabeth Gaines has resigned as executive director of Fortescue, effective 30 June, after serving on the board for more than 13 years.

The context: Gaines joined the board as a non-executive director in 2013, later serving as chief financial officer since 2017 and leading as the CEO and managing director for the company from 2018 to 2022.

The company credited Gaines as a driving force behind its global transition to green energy and a key ambassador for Fortescue’s “Real Zero” 2030 target to decarbonise its mining operations.

The board has appointed Sigrid Kaag as the new non-executive director. Kaag brings more than 35 years of international affairs, trade and finance experience across national and international leadership roles.