MELBOURNE: Global mining giant BHP Group on Wednesday named Brandon Craig as its next chief executive officer, tapping a 25-year company veteran to take the helm as it deepens its focus on copper and potash production.
Craig, currently President of BHP’s Americas division, will assume the role of CEO and join the board on July 1, 2026. He succeeds Mike Henry, who is stepping down after six and a half years leading the company.
The transition marks a key moment for the world’s largest miner by market value, which is pivoting toward so-called “future-facing” commodities to capitalise on global demand for energy transition minerals.
“We are very pleased an executive of Brandon Craig’s calibre and extensive experience has been appointed as our new CEO,” BHP Chair Ross McEwan said in a statement. “I am confident that his discipline and focus will continue to drive BHP’s high-performance culture.”
Craig, who joined BHP in 1999, has led the company’s growth strategy across the Americas since March 2024. During his tenure, BHP solidified its position as the world’s largest copper producer and advanced high-quality options in copper and potash, including the Jansen potash project in Canada, which remains on track to begin operations in mid-2027.
Craig also previously led BHP’s Western Australia Iron Ore business, where he improved operational performance and strengthened the company’s position as the world’s lowest-cost major iron ore producer.
“It is an honour and privilege to succeed Mike Henry as CEO of BHP,” Craig said. “Thanks to his leadership, BHP is well positioned for the future.”
Henry’s tenure as CEO was marked by significant portfolio reshaping. The company demerged its petroleum business, streamlined its coal operations, and simplified its dual-listing structure. Under his leadership, BHP increasingly focused on copper and potash — both critical to the global energy transition — with more than half of the company’s recent half-year earnings now sourced from copper.
Henry also oversaw improvements in safety culture and operational excellence through the BHP Operating System. The company achieved gender balance in its workforce, reduced operational greenhouse gas emissions by 30%, and strengthened partnerships with Indigenous peoples.
Average total shareholder returns during Henry’s tenure were approximately 17% per annum, with about $80 billion returned to shareholders.
“It has been a privilege to serve as CEO of BHP,” Henry said. “Brandon is an excellent choice as CEO, and I wish him every success.”
Craig will receive an annual base salary of US$1.9 million and will be eligible for short- and long-term incentive plans with a total target of 240% of base salary. He will be subject to a minimum shareholding requirement of five times his annual pre-tax base salary and a 12-month non-compete clause. The incoming CEO and his family will relocate to Melbourne, supported by a relocation allowance.
Henry will remain in the CEO role through June 30, 2026, and continue to support the transition until Nov. 30, 2026, when his employment with BHP will formally cease. He will receive his base salary and participate in the FY2026 Cash and Deferred Plan award, but will not receive a 2026 Long-Term Incentive Plan award. Unvested equity rights will be retained on a pro-rata basis, subject to vesting conditions.
BHP said further details on executive compensation would be provided in its 2026 Remuneration Report.