New BHP Chairman

Last week we commented on Mr. Don Argus finishing up as chief of the NAB and expecting announcement of him being appointed as the new chairman of BHP.

Well today this was confirmed by BHP with the incumbent chairman Mr. Jerry Ellis to hand over the reins to Mr. Argus by 30 June next year.

Whilst this announcement is expected to take some of the sting out of next months BHP annual general meeting do not be surprised if shareholders look to take more board member scalps as retribution for the Big Australians disastrous recent results.