Freeport-McMoRan Announces Leadership Transition

116

Freeport-McMoRan has announced the appointment of Kathleen L. Quirk as President and Chief Executive Officer, effective at the annual meeting of shareholders on June 11, 2024. Ms. Quirk will assume full responsibility for executive management of the business, reporting to the FCX Board of Directors.

Richard C. Adkerson will continue to serve as Chairman of the Board of Directors, supporting the leadership transition and providing guidance on strategic matters of significance to the company.

Dusty McCoy, Lead Independent Director, stated, “The Board has been engaged in a process to identify Richard’s successor, and Kathleen has emerged as the ideal candidate. Her track record of accomplishment, proven leadership, and commitment to value creation make her highly qualified to lead Freeport. With her extensive knowledge of the company and its operations, Kathleen is well-positioned to drive Freeport forward as CEO.”

Mr. McCoy added, “We are grateful to Richard for his outstanding leadership over the past 20 years. Under his guidance, Freeport has become a global leader in the copper industry, delivering value for stakeholders and fostering a culture of excellence. Richard’s continued support on strategic matters will be invaluable.”

Mr. Adkerson shared his appreciation for his time as CEO and expressed confidence in Ms. Quirk’s ability to lead Freeport into the future. He stated, “My tenure as CEO has been an honor, and I am proud of the impact we have made. Kathleen’s strategic acumen and leadership skills make her the right choice to lead Freeport. I remain committed to supporting the company and our stakeholders in my role as Chairman.”