Wrap Text
Brandon Craig to succeed Mike Henry as BHP CEO
BHP Group Limited
BHP Group Limited ABN 49 004 028 077
Registered in Australia
Registered Office: Level 18, 171 Collins Street Melbourne VIC 3000
Share code: BHG
ISIN: AU000000BHP4
Exchange release
18 March 2026
Brandon Craig to succeed Mike Henry as BHP CEO
The Board of BHP announces that Brandon Craig will become Chief Executive Officer
(CEO) and a Director of BHP Group Limited on 1 July 2026. Mr Craig will succeed the current
CEO, Mike Henry, who will step down after six and a half years in the role.
BHP Chair, Ross McEwan said: "We are very pleased an executive of Brandon Craig's calibre
and extensive experience has been appointed as our new CEO to lead the execution of our
strategy. I am confident that his discipline and focus will continue to drive BHP's high-
performance culture and advance the company's unrivalled pipeline of growth options to
maximise shareholder returns.
We would like to recognise the outstanding contribution of Mike Henry to BHP as CEO. Under
his leadership, BHP has transformed into a safer and more productive company, financially
strong and sharply focused on shareholder value and social value."
CEO appointment
The appointment of Mr Craig follows a formal CEO succession process.
Brandon brings more than 25 years of operational and corporate leadership experience at
BHP to the role. He is currently BHP's President Americas, leading the company's growth
strategy in future facing commodities across Canada, the United States and South America.
During his time in the role, BHP became the world's largest copper producer and advanced
high quality growth options in copper and potash. Prior to this, Brandon led our Western
Australia Iron Ore business, improving operational performance and increasing BHP's lead as
the lowest cost, highest margin major iron ore producer in the world.
Mr Craig said: "It is an honour and privilege to succeed Mike Henry as CEO of BHP. Thanks
to his leadership, BHP is well positioned for the future. Mike will be remembered for his
strategic decision-making, portfolio transformation, operational excellence and focus on safety
and high-performance culture.
As incoming CEO, I am committed to leading the talented and hard-working people who make
BHP a great company and continuing to generate long-term value for all our shareholders. I
will work tirelessly with the Board and management to achieve this. I look forward to continuing
to take this great company forward."
BHP Group Limited ABN 49 004 028 077
CEO Mike Henry
Outgoing CEO, Mike Henry said: "It has been a privilege to serve as CEO of BHP and to have
worked with so many truly talented people. I am proud of what we have achieved together.
BHP is a safer and higher performing company and is better positioned for future growth. We
are creating sustainable long-term value for our shareholders, our supply chain, partners and
our communities. Brandon is an excellent choice as CEO, and I wish him every success in the
role."
During Mr Henry's tenure as CEO, BHP established its track record of sector leading
operational performance, with BHP's Western Australia Iron Ore business securing and
growing its lead as the world's lowest cost major iron ore producer.
BHP has become a simpler company, with a more resilient and growth-oriented portfolio
through demerging its Petroleum business, high-grading its coal business, simplifying its
listing structure and pivoting towards growth in copper and potash, both future facing
commodities.
Under Mr Henry's leadership, BHP has established itself as the world's largest copper
producer, with over half of BHP's recent half year earnings sourced from copper and a
significant volume of growth to come. This, coupled with BHP's soon to be commissioned
potash mine, leaves the company well placed to deliver high-margin growth into the future.
Mr Henry has led a strong focus on safety and a high-performance culture during his tenure.
Under Mr Henry's leadership, BHP has established sector-leading operational excellence
through the BHP Operating System. BHP also achieved a gender balanced workforce and
a 30% reduction in operational greenhouse gas emissions and stronger partnerships with
Indigenous peoples.
Average Total Shareholder Returns have been ~17% per annum, and BHP returned ~US$80
billion to shareholders during Mr Henry's tenure.
BHP has a unique combination of large, long-life, low-cost assets in the most attractive
commodities, a track record of operational excellence and capital discipline, a leading pipeline
of growth in copper and potash, and a distinct approach to building social value. This will
generate attractive and reliable returns and growth for shareholders well into the future.
Further information is provided in Appendix 1.
BHP Group Limited ABN 49 004 028 077
Appendix 1
Biography – Brandon Craig
Having joined BHP in 1999, Brandon Craig has built more than 25 years of corporate and
operational leadership experience across a diverse portfolio of commodities. Brandon has
been BHP's President Americas since March 2024. In this role, he has responsibility for much
of BHP's growth strategy including in Canada, the United States and South America.
Brandon has advanced BHP's high quality growth options, increasing copper guidance for
FY2026 and FY2027 and targeting around 2.5 million tonnes of copper equivalent production
per year by the mid-2030s. Under Brandon's leadership, Escondida, the world's largest copper
mine, has extended its grade and production guidance through productivity improvements and
a focus on operational excellence.
Brandon has overseen the creation of the Vicuña joint venture, a highly prospective project
with the potential to be one of the world's top copper and gold mines, as well as oversight of
non-operated joint ventures in Brazil, Peru and the United States. BHP's Jansen potash
project in Canada is on track to begin operations in mid-2027. This will be a significant new
business for BHP which diversifies its portfolio and brings in a commodity with strong long-
term fundamentals.
Prior to this, Brandon led our Western Australia Iron Ore business, improving operational
performance and increasing BHP's lead as the lowest cost, highest margin major iron ore
producer in the world. This demonstrated Brandon's ability to deliver strong performance
across an integrated business of mines, rail and port operations.
Summary of the material terms of Brandon Craig's appointment
Name and position title Brandon Craig, Chief Executive Officer, BHP
Commencement date and term 1 July 2026, no fixed term
Base salary US$1,900,000 per annum
Superannuation/pension plans 10% of base salary
Incentive arrangements and The CEO will be eligible to participate in BHP's Cash and
other benefits Deferred Plan (CDP) and Long-Term Incentive Plan (LTIP) under
the company's Equity and Cash Incentive Plan Rules.
The CDP provides participants with an annual award based on
achievement against a performance scorecard. CDP awards
comprise equal components of cash, 2 Year Deferred Rights and
5 Year Deferred Rights. The target is 80% of base salary for each.
The total target in aggregate is 240% of base salary, with a
maximum opportunity of 360% of base salary and a minimum
potential outcome of zero.
The LTIP provides participants with an annual award of LTIP
Performance Rights with a performance period of five years. LTIP
awards for the CEO are granted at 200% of base salary each
BHP Group Limited ABN 49 004 028 077
year, with vesting subject to achievement against the relevant
performance conditions.
Further details of BHP's remuneration framework are outlined in
BHP's 2025 Remuneration Report.
Brandon Craig and his family will be entitled to a relocation
allowance to support his relocation to Melbourne.
Other benefits may be approved by the People and
Remuneration Committee from time to time and may include tax
return preparation, financial planning/advice, car parking and
health insurance.
Resignation or termination of Brandon Craig may resign or BHP may terminate employment by
employment giving 12 months' notice.
BHP may immediately terminate Brandon Craig's employment
without notice in certain circumstances, for example where there
is misconduct or serious breach.
Minimum Shareholding Five times annual pre-tax base salary.
Requirements (MSR) A two-year post-retirement shareholding requirement applies
from the date of retirement, which will be the lower of the CEO's
MSR or the CEO's actual shareholding at the date of retirement.
Other The employment agreement contains general provisions relating
to leave entitlements, intellectual property and confidentiality, and
a 12 month non-compete and restraint period.
Summary of leaving entitlements for Mike Henry
Transition timing Mike will continue to serve as Chief Executive Officer to 30 June
2026 and will continue to provide support for the period to 30
November 2026, at which time his employment with BHP will
cease.
Incentive arrangements Mike will be remunerated in the ordinary course through to the
end of his employment with BHP (including base salary and
participation in the FY2026 CDP Award). Any remaining notice at
that time will be paid to him in lieu. Mike will not receive a 2026
LTIP award.
Mike will retain unvested CDP Deferred Rights (2 Year) in full,
subject to vesting in the ordinary course. He will retain unvested
CDP Deferred Rights (5 Year) and LTIP Rights on a pro-rata
basis, subject to vesting in the ordinary course and applicable
vesting conditions.
Mike's other entitlements will be in accordance with his previously
disclosed contractual arrangements and statute.
Further details will be provided in BHP's 2026 Remuneration
Report.
BHP Group Limited ABN 49 004 028 077
Authorised for release by Stefanie Wilkinson, Group General Counsel and Group Company Secretary.
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
BHP Group Limited ABN 49 004 028 077
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BHP Group Limited
ABN 49 004 028 077
LEI WZE1WSENV6JSZFK0JC28
Registered in Australia
Level 18, 171 Collins Street
Melbourne
Victoria 3000 Australia
Tel: +61 1300 55 4757 Fax: +61 3 9609 3015
BHP Group is headquartered in Australia
bhp.com
BHP Group Limited ABN 49 004 028 077
Date: 18-03-2026 07:05:00
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