The Financial Post reported that Andrew Mackenzie has been appointed the new CEO of beleaguered BHP Billiton (NYSE:BHP,ASX:BHP,LSE:BLT), which recently experienced its greatest profit drop in a decade.
As quoted in the market report:
The appointment was announced as BHP reported a 43% slump in first-half profit to US$5.68 billion, its worst profit drop in more than a decade, and took US$3 billion in writedowns on its aluminium and nickel assets, in line with market forecasts.
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