Australia's Fortescue says CEO Elizabeth Gaines to step down

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Gaines, who has led the Australian company for the last four years, will remain on Fortescue’s board as a non-executive director and assist in the search for her successor, the company said.

Fortescue’s board has started a global search to identify a new CEO and other leaders with “global experience across heavy industry, manufacturing, and renewable energy,” it said in a statement.