Jac Nasser to take up BHP Billiton chair next month

Jac Nasser, one of the biggest names in the corporate landscape during the Nineties at Ford Motor, will take up his post as chairman of BHP Billiton on 30 March, it was announced today.

The London-listed mining company named Nasser as its chairman last August, saying he would take over early in 2010. The Australian will succeed Don Argus, chairman for more than 10 years, who is retiring.

Nasser, whose reputation as a cost cutter at Ford earned him the nickname "Jac the Knife", joined the BHP board as a non-executive director in 2006 and is a member of the board's risk and audit committee.

When he takes over as chairman, Nasser will give up executive management duties with One Equity Partners, the private equity arm of JP Morgan, but stay on in an non-executive and advisory role.

He will also remain a director of BSkyB and a member of the International Advisory Council of Allianz.

"My priority commitment will be the chairmanship of BHP Billiton, duly recognising the challenges of a dual-listed company structure and the requirements to represent the interests of all shareholders in our key markets," Nasser said.