Business
Fortescue (ASX:FMG) share price hit by a $3 billion cultural problem – The Motley Fool Australia
The Fortescue (ASX: FMG) share price was dumped in late trade, following the release of a leadership change that alludes to cultural issues.
The sixth biggest ASX-listed company, Fortescue Metals GroupLimited(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…
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