Time for Change > New CFO Role for Debelle

Deputy Governor, Guy Debelle, announced last week that he will be resigning from the Bank, effective Wednesday, 16 March.

Dr Debelle will be taking up the position of Chief Financial Officer of Fortescue Future Industries in June. He said: ‘I am honoured and privileged to have worked at the Bank for the past 25 years and contributed to improving the welfare of the Australian people. The Bank is a great institution which serves Australia well, including most recently through the policy response to COVID which has helped the country come through the crisis in a strong position. I have often spoken about the opportunities for business to help address climate change. This new position gives me the opportunity to make a significant contribution in this area’.

Fortescue Chair and Founder, Dr Andrew Forrest AO said “Bringing in someone of Dr Debelle’s economic credibility goes to the heart of our vision for FFI. Not only are we committed to arresting climate change, we are also committed to creating economic growth, increasing jobs and growing our business profitability.

“Dr Debelle with the leadership team, will drive the most optimal financial solutions for FFI’s vast technology and energy portfolio. This will be instrumental in Fortescue’s journey to become the best green hydrogen, energy and resources company in the world.

“We will prove that going green has a profitable future for companies the world over. We will demonstrate this so that other heavy emitters, like us, will follow our efforts and go green too. Further, we will produce the green energy and ammonia to enable them to do it.”

Dr Debelle will also lead the new FFI Sydney office based in the CBD, with FFI’s headquarters remaining in Perth. Ian Wells remains CFO of the Fortescue Metals Group.

Governor Philip Lowe said: ‘I would like to thank Guy for his outstanding service to the RBA over many years. He has made major contributions to monetary policy, to financial market operations and to the management of the Bank. Guy has been a great colleague and I wish him all the best in his new position’.

The new Deputy Governor will be appointed by the Treasurer of Australia.