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INGENUITY CREATES A LEGEND AND JOINS HANDS IN A WIN-WIN FUTURE
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Time:
2021-09-22
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The slowdown in global economic growth, especially the decline in China's demand for iron ore, has seriously dragged down the growth of the iron ore giant BHP Billiton.
Affected by the slowdown in global economic growth, demand for commodities such as iron ore, copper and crude oil has been suppressed. Last year, my country’s steel industry had difficulties in business operations, and the demand for imported iron ore has also been declining. This has made BHP Billiton whose performance has been closely related to emerging economies, especially China’s economy in recent years, can be said to have worsened the situation. A report released by BHP Billiton on the 20th showed that its sales revenue in the second half of 2012 fell by 14.1% to US$32.2 billion, and its net profit fell to US$4.2 billion, a sharp drop of 57.8% from the US$9.9 billion in the same period last year, which was significantly lower than market expectations. .
On the same day, BHP Billiton announced its decision to replace the CEO. McKinsey, the CEO of the company's non-ferrous metals division, will take over the baton of the CEO from Goreth. Analysts believe that BHP Billiton’s decision to appoint and dismiss was not only due to the frustration of the acquisition of Rio Tinto’s major competitor, Rio Tinto, but also due to the decline in the company’s performance.
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