Freeport-McMoRan Announces Appointment of Two Independent Members to its Board of Directors
April 06 2021 - 8:00AM
Business Wire
David P. Abney and Robert W. Dudley
Freeport-McMoRan Inc. (NYSE: FCX) announced today the
appointment of David P. Abney and Robert “Bob” W. Dudley to its
Board of Directors.
Mr. Abney retired as Chairman and Chief Executive Officer of
United Parcel Service, Inc., a multinational package delivery and
supply chain management company in 2020. He served as CEO beginning
in 2014 and previously served as the Chief Operating Officer of
UPS. Mr. Abney had an accomplished and highly successful 46-year
career at UPS, including executive management roles in operations,
international development, logistics, sustainability and
engineering across all facets of the UPS global transportation
network. During his time as Chief Executive Officer of UPS, Mr.
Abney served on the Board of Directors of Catalyst, a global
nonprofit working to advance women into senior leadership and board
positions. He also previously served as a leader on The Business
Roundtable. Mr. Abney currently serves as a director of Macy’s,
Inc. and Northrop Grumman Corporation, and serves on the Business
Council. Mr. Abney holds a B.S. in Business Administration from
Delta State University.
Mr. Dudley is the retired Group Chief Executive of BP, p.l.c., a
British multinational oil and gas company, a position he held from
2010 to 2020. Mr. Dudley had a distinguished career with BP and its
predecessors spanning over 40 years, serving in a broad range of
engineering, commercial, strategic, international and executive
roles. Since 2016, he has chaired the Oil and Gas Climate
Initiative, a CEO-led initiative that aims to accelerate the oil
and gas industry response to climate change. Mr. Dudley currently
serves as a director of Rosneft, the largest publicly traded oil
company in the world, and has been recently nominated for the board
of LyondellBasell Industries N.V. He also serves on the Business
Council, was a member of the Business Roundtable and is a fellow of
the Royal Academy of Engineering. Mr. Dudley has dual American and
British citizenship and holds a B.S. in Chemical Engineering from
the University of Illinois, an MIM from the Thunderbird School of
Global Management (now part of Arizona State University), and an
MBA from Southern Methodist University.
Richard C. Adkerson, Chairman of the Board and Chief
Executive Officer said: “David Abney and Bob Dudley are exceptional
leaders with proven track records and experience in global
business, corporate governance and a wide range of matters relevant
to Freeport. These individuals will strengthen our Board by
complementing the skills of our current directors, as we execute
our clearly defined strategy of being foremost in the global copper
industry. The additions to our Board are consistent with our
corporate objective and my personal commitment to having a Board
with broad and diverse experience, a deep understanding of the
challenges and opportunities associated with our business and a
focus on value and sustainability for the benefit of all
stakeholders.”
FCX’s Board of Directors is now comprised of eight members,
including seven independent directors. As previously announced,
Gerald J. Ford, former non-executive Chairman of the Board, will
retire as a director effective upon the expiration of his current
term, which ends in June 2021. Further additions to the Board are
anticipated.
FREEPORT: Foremost in Copper
FCX is a leading international mining company with headquarters
in Phoenix, Arizona. FCX operates large, long-lived, geographically
diverse assets with significant proven and probable reserves of
copper, gold and molybdenum. FCX is one of the world’s largest
publicly traded copper producers.
FCX’s portfolio of assets includes the Grasberg minerals
district in Indonesia, one of the world’s largest copper and gold
deposits; and significant mining operations in North America and
South America, including the large-scale Morenci minerals district
in Arizona and the Cerro Verde operation in Peru.
By supplying responsibly produced copper, FCX is proud to be a
positive contributor to the world well beyond its operational
boundaries. Additional information about FCX is available on FCX's
website at fcx.com.
Cautionary Statement Regarding Forward-Looking
Statements: This press release contains forward-looking
statements, which are all statements other than statements of
historical facts. FCX cautions readers that forward-looking
statements are not guarantees of future performance and actual
results may differ materially from those anticipated, expected,
projected or assumed in the forward-looking statements. Important
factors that can cause FCX's actual results to differ materially
from those anticipated in the forward-looking statements include,
but are not limited to, the factors described in more detail under
the heading “Risk Factors” in FCX's Annual Report on Form 10-K for
the year ended December 31, 2020, filed with the U.S. Securities
and Exchange Commission (SEC).
Investors are cautioned that many of the assumptions on which
FCX's forward-looking statements are based are likely to change
after the forward-looking statements are made, including for
example commodity prices, which FCX cannot control, and production
volumes and costs, some aspects of which FCX may not be able to
control. Further, FCX may make changes to its business plans that
could affect its results. FCX cautions investors that it does not
intend to update forward-looking statements more frequently than
quarterly notwithstanding any changes in its assumptions, changes
in business plans, actual experience or other changes, and FCX
undertakes no obligation to update any forward-looking
statements.
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Financial Contacts: Kathleen L. Quirk (602) 366-8016 David P.
Joint (504) 582-4203 Media Contact: Linda S. Hayes (602)
366-7824
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