Business
Fortescue (ASX:FMG) share price hit by a $3 billion cultural problem
The sixth biggest ASX-listed company, Fortescue Metals Group Limited (ASX: FMG), suffered a $3.1 billion reduction in market capitalisation today, following the announcement of leadership changes.
The Fortescue share price nosedived following the announcement of several resignations in the company’s leadership team, leaving Fortescue shares down 3% at the closing bell.
Losing sight of values and culture
The details are sparse at the moment, with little being divulged to the market ahead of the company’s half-year results expected on Thursday. What is clear is that the following members of the leadership and projects team have resigned:
- Greg Lilleyman – Chief Operating Officer
- Don Hyma – Director of Projects
- Manie…
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