Andrew Forrest offers work to former UK chancellor Kwasi Kwarteng
Andrew Forrest, Fortescue’s executive chairman, who is currently facing questions over high executive turnover at his companies, has offered advisory work to former British chancellor Kwasi Kwarteng.
A former business and energy secretary, Mr Kwarteng was chancellor of the exchequer for just 38 days; he was sacked by former prime minister Liz Truss after their government’s mini-budget caused major financial turmoil.
Mr Kwarteng would be joiningthe ranks of former politicians and political operators Dr Forrest currently employs. UK politician Lord Sebastian Coe already sits on Fortescue’s board, and Malcolm Turnbull is chairman of FMG’s Australian green energy arm, Australian Fortescue Future Industries.
Mr Kwarteng, who has been a supporter of green energy and an advocate for the role of hydrogen in decarbonisation, has been offered advisory work which is expected to start later in the year, sources with knowledge of the matter said. He has a PhD from Cambridge and worked for JP Morgan before entering politics. Fortescue Future Industries previously described Mr Kwarteng as a friend of the company.
Dr Forrest recently criticised the British government over its tilt towards oil and gas, saying that “if I see this country steering itself over a cliff backing fossil fuels”, he would pull investments. Earlier in the year Fortescue said it planned to expand the production of batteries and electric powertrains in the UK.
Dr Forrest is known for hiring people whose careers have faced challenges. John Hartman, Tattarang chief executive, has spoken of his loyalty to the mining billionaire after Dr Forrest gave him a second chance after he served time for insider trading.
The revelation comes after Dr Forrest faced questions from
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