What You Were Buying Last Week: BHP Billiton plc (BLT)

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Over recent months, the company has been undergoing a root-and-branch restructuring and transformation program, including divesting non-core assets, aimed at reducing costs and increasing efficiencies. And the top management of BHP recently underwent some significant changes. Out went CEO Marius Kloppers, who reigned over some substantial increases in costs and expenditure, and in came Andrew Mackenzie, previously head of BHP Billiton plc (LON:BLT)’s non-ferrous metals division. Out also went a whole layer of management, which, the company said “brings the operations closer to the CEO and ensures alignment between strategic and managerial leadership“, and in came some new blood to the company’s ‘Group Management Committee’ (its senior leadership).

Management changes can often have an unsettling effect on a company — even when they’re ultimately for the best. But with its avowed focus on being “best in class in terms of dollars spent per tonne mined and barrel lifted, “maintaining [its] capital discipline” and “delivering sustainable returns” for shareholders, people buying BHP Billiton plc (LON:BLT) last week obviously have confidence in the new leadership of the company.

The article What You Were Buying Last Week: BHP Billiton originally appeared on Fool.com and is written by Jon Wallis.

Jon Wallis has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.

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