BHP names new boss as profit slumps

Global miner BHP Billiton appointed the head of its non-ferrous business as its new chief executive on Wednesday to replace Marius Kloppers, as it reported an expected 43 per cent drop in half-year profit.

Andrew Mackenzie, 56, whom Kloppers wooed from rival Rio Tinto in 2008, will move into the top job in May, taking the reins at a time when the company is battling to protect margins by cutting costs amid weaker commodity prices.

via Business feed http://www.scmp.com/business/companies/article/1154482/bhp-names-new-boss-profit-slumps