BHP Billiton CEO Ending on a High Note

Chip Goodyear will bid farewell to the mining company at the end of the year. But first he announced record profits and a stock buyback plan

BHP Billiton (BHP) Chief Executive Charles "Chip" Goodyear unexpectedly announced on Feb. 7 that he will step down at the end of the year. At the same time, the Texas-born head of the world's biggest mining company made sure that investors will remember him fondly by announcing that first-half net profits for the period ending Dec. 31 jumped 41.3% to a record $6.16 billion, from $4.36 billion a year ago, thanks to soaring commodity prices.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.