Billionaire mining CEO fined $8.8m amid investigation, which follows accusations he failed to disclose revenue generated by overseas entities to tax authoritiesFollow our Australia news live blog for latest updatesGet ourbreaking news email,free app ordaily news podcastBillionaire mining boss Chris Ellison will leave Mineral Resources as part of an “orderly transition” within 18 months after the company’s board found the chief executive had at times used company resources for his personal benefit.MinRes said in a statement it had also fined Ellison $8.8m to reflect the “significance of corporate governance and reputational issues to the company”. The founding chief executive also faces a further $9.6m in lost remuneration.Sign up for Guardian Australia’s breaking news email Continue reading…
Source link : https://www.theguardian.com/australia-news/2024/nov/04/chris-ellison-mineral-resources-boss-exit-step-down-ntwnfb
Author : Jonathan Barrett Senior business reporter
Publish date : 2024-11-04 00:07:28
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Mineral Resources boss Chris Ellison shown exit after revelation he used company resources for personal benefit
