Fiona Hick in abrupt Fortescue exit

Fortescue Metals chief executive Fiona Hick leaves Andrew Forrest's iron ore business without explanation following a mutual agreement with the board, six months after she started. 

The Andrew Forrest-led iron ore miner issued a statement on Monday morning advising it had decided to 'expedite the appointment' of the division's chief operating officer Dino Otranto to replace Ms Hick. 

"Fiona Hick has made a joint decision with the Fortescue Board to leave the company and leaves it in very good hands," the statement read. 

"The departure of Fiona has been both friendly and mutual and we warmly wish her the best for her future."

Fortescue Energy boss Mark Hutchinson furnished little further details regarding Ms Hick's sudden exit when quizzed on a results call. 

"We did give a statement which I'd turn your attention to... I respect the decision of Fiona and I wish her well. I respect the decision of the board and I'd ask you to look at that release."

One analyst suggested shareholders deserved a better explanation than had been given by Fortescue, however Mr Hutchinson had little to add other than advising the decision had been mutual. 

He also couldn't be drawn when asked regarding the process leading to Mr Otranto's appointment. 

Her departure marks the latest in a wave of top level changes within the Fortescue empire.

Fortescue Energy's Interim finance chief Felicity Gooding resigned in July after more than 10 years with the business.

Former Reserve Bank of Australian deputy governor Guy Debelle left the same role after six months in November 2022.

A former Woodside Energy executive, Ms Hick's role with Fortescue was announced in November 2022 and is believed to have started in her role in February. 

“It’s been wonderful to work with the dedicated people at Fortescue. I am thankful for the opportunity and wish Fortescue well in its mission to decarbonise," her statement from the company read. 

A follow-up statement was provided to Business News, where the outgoing CEO said she was considering her next move. 

“I have valued the experience at Fortescue and I thank the company and its people for the opportunity," Ms Hick said. 

"I now look forward to time with family and friends while I consider my next move."

Ms Hick's appointment concluded a year-long search to replace former group chief executive Elizabeth Gaines. 

Fortescue said it was 'very focused' on developing its own internal talent to lead the business in announcing Mr Otranto as chief executive. 

Mr Otranto has been with Fortescue for two years and said he was honoured and humbled to take the new role in a company he said was built on a culture 'unlike any' he had seen. 

"We are a unique company at a unique point in time. The opportunity before us is immense," he said. 

"I'm thrilled to be here today as CEO of the Fortescue Metals business."

The Forrest's family offices have lost chief financial officer Bree Fraser, chief executive Andrew Hagger and chief operating officer Stephen Daly since October 2022.

Sources have claimed Ms Hick went into the role planning for it to be a long-term position and that there was no particular incident that triggered the departure.