I had the opportunity to chat with 2GB’s Scott Hayward on the Money Show. The CEO of Fortescue has stepped down after just six months in the top job, while the company’s earnings dropped to $US4.8 billion across FY23. Click the link below to listen:
https://omny.fm/shows/money-news/gavin-wendt-founding-director-and-senior-resourc-6
We discuss the departure of Fortescue’s CEO Fiona Hicks after less than six months, board turnover generally, iron ore pricing, cost blowouts, and where does the green energy part of the business fit in. We also take a look at reporting season in the resource sector generally, with prices significantly lower than last year’s levels. The outlook for th sector is still robust, with strong cashflows and dividends, despite China’s economic struggles.