Fortescue Metals Group CEO Elizabeth Gaines is leaving her post as the company transitions from an iron ore and metals explorer play to a green energy and resources group.
But she will remain on the board as a non-executive director, FMG said in a statement to the Australian Securities Exchange on Friday.
"Elizabeth has, with the full support of the board of directors, chosen to assist the selection of a new CEO to lead the development of the diversified renewables and resources group, and will transition from the CEO role," it said.
FMG has engaged the elite executive search firm Egon Zehnder to support the global search for a new CEO.
Ms Gaines was "invited" by the board to continue as a board member and as FMG's global green hydrogen brand ambassador.
She had been CEO since February 2018 and executive director since February 2017. She had served as chief financial officer after joining the board as a non-executive director from 2013.
Chair Andrew 'Twiggy' Forrest said the company was undergoing a significant transition as it decarbonises its business.
The West Australian group says it now has one of the largest portfolios of green hydrogen, green ammonia, green iron ore, green iron and other green product developments in the world.
Dr Forrest praised Ms Gaines as an inspiring leader of great character and integrity.
Ms Gaines said she was "delighted" to remain on the board and help with the search for a new CEO.
"I know that the successful candidate will be able to build on our excellent operational performance and lead the diversification of Fortescue," she said.
