business
Finance chief Mark Wilson retires after eight years funding Chris Ellison-led Mineral Resources’ expansion
MinRes CFO Mark Wilson to retire at end of December after more than eight years, with Jonathan Cowper acting as finance chief.
Key points
- Mark Wilson will leave Mineral Resources at the end of December after more than eight years in the job.
- Mineral Resources cut net debt by $1.08 billion in the year to June, but net debt still stood at $4.27b.
- Jonathan Cowper joined MinRes in 2023 from state-owned electricity retailer Synergy, where he was CFO.
Why it matters. The departure of the finance chief during a period of heavy investment and debt reduction leaves the miner searching for a permanent successor while Cowper acts in the role.
Mineral Resources chief financial officer Mark Wilson will retire at the end of December after more than eight years in the job, with the Perth miner yet to name a permanent successor. Executive general manager finance Jonathan Cowper will act as CFO while the company recruits. MinRes cut net debt by $1.08 billion in the year to June, though it still stood at $4.27b. Wilson said he was proud of what the company had achieved and would work closely with Chris Ellison and the Board on a smooth transition.
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Finance chief Mark Wilson retires after eight years funding Chris Ellison-led Mineral Resources’ expansion
Mark Wilson helped finance MinRes’ multibillion-dollar expansion into lithium and iron ore. Now the long-serving finance chief is retiring, with a permanent replacement yet to be named. Mineral Resources chief financial officer Mark Wilson will retire after helping finance a multibillion-dollar expansion of the Chris Ellison-led miner into lithium and iron ore. Mr Wilson will leave at the end of December after more than eight years in the job, with MinRes yet to name a permanent successor. Executive general manager finance Jonathan Cowper will step in as acting chief financial officer while the Perth company recruits. Mr Ellison said MinRes was generating strong cash flows after years of heavy investment. “Following a period of significant investment, including in the transformational Onslow Iron project, MinRes is today in a healthy financial position and generating strong cash flows,” he said. MinRes cut net debt by $1.08 billion in the year to June, although it still stood at $4.27b. Major deals during Mr Wilson’s tenure included the $1.3b sale of a 49 per cent stake in the Onslow Iron haul road to Morgan Stanley Infrastructure Partners. MinRes also struck an agreement to sell part of its lithium interests to South Korea’s POSCO for about $1.2b. “I’m proud of what we have achieved together and will leave the company in a strong position,” Mr Wilson said. “I will work closely.