BHP's Next CEO Prefers Growth, Open To 'Incredibly Compelling' Deals

The leading global miner, BHP Group Limited (NYSE:BHP), has selected Brandon Craig as its next chief executive officer. He will succeed Mike Henry from July 1, 2026, who will step down after more than six years at the helm. "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 maximize shareholder returns," Chair Ross McEwan said in the statement. He added that the company would "recognize the outstanding contribution" of Henry, under whose leadership BHP became safer, more productive, and financially stronger. The Unexpected Veteran Craig brings more than 25 years of experience at BHP, having joined the company in 1999. His latest position was as President Americas, where he led growth strategies across the U.S., Canada, and South America. In these markets, BHP strengthened its position as the world's largest copper producer, while advancing major projects in both copper and potash. Prior to that, Craig ran the cornerstone Western Australia Iron Ore division, improving operational performance and reinforcing BHP's status as the lowest-cost major producer. Interestingly, when rumors of leadership succession surfaced a year ago, he was not a leading contender. "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," Craig said. Organic Growth, Selective Deals The six years under Henry's leadership were transformational. BHP moved away from petroleum, simplified its listing structure, and reshaped its portfolio toward copper and potash. The firm fortified operational discipline and achieved sector-leading performance in iron ore. Average annual shareholder returns amounted to around 17%, and the firm returned approximately $80 billion to investors. BHP also made progress on sustainability goals, including reducing operational greenhouse gas emissions and achieving gender balance in its workforce. Craig might continue on this foundation by advancing BHP's pipeline of growth projects, particularly in copper and potash, while maintaining capital discipline. At the press conference, he noted a focus on organic growth across core commodities while remaining cautiously open to deals. According to Reuters, he said any mergers or acquisitions "would have to be incredibly compelling to compete with that set of options that we have." BHP Price Action: BHP Group shares were up 0.91% at $71.12 during premarket trading on Wednesday, according to Benzinga Pro data. Photo by T. Schneider via Shutterstock