Australian green hydrogen company Fortescue Future Industries (FFI) has hired the Deputy Governor of the Reserve Bank of Australia (RBA) Dr Guy Debelle as the company's new Chief Financial Officer (CFO) who leaves the bank after having worked here for 25 years in various positions.
A PhD from the Massachusetts Institute of Technology (MIT), Debelle has previously worked with the International Monetary Fund (IMF), Bank for International Settlements, and Australian Treasury. He is also a visiting professor of economics at MIT.
Within Australia, Debelle is known as a vocal proponent of issues related to climate change and moves out of the bank at a time when he could have been its next governor. Following his resignation that comes into effect from March 16, 2022, Debelle's boss RBA Governor Philip Lowe shared a send-off note hailing his contributions to monetary policy, to financial market operations and to the management of the bank.
About his appointment which will be effective in June 2022, Fortescue Chair and Founder, Dr Andrew Forrest said, "Bringing in someone of Dr Debelle's economic credibility goes to the heart of our vision for FFI," and added, "We will prove that going green has a profitable future for companies the world over."
Forrest also said that Debelle will drive the most optimal financial solutions for the company's vast technology and energy portfolio which will be instrumental in its journey to become the best green hydrogen, energy and resources company in the world.
Debelle will replace Michael Masterman and will lead the team from the Sydney office of FFI while its headquarters stay put at Perth. Fortescue Metals Group will continue to have Ian Wells as its CFO, stated FFI.