(Reuters) -Copper miner Freeport-McMoRan on Tuesday named Kathleen Quirk as its new chief executive officer, and said her appointment will be effective at the annual meeting of shareholders on June 11.
Quirk will succeed veteran Richard Adkerson, who has served as the CEO since 2003.
Adkerson will remain the chairman of the board of directors, supporting the leadership transition and Freeport's business on strategic matters, the company said.
"For some time, the Board has been engaged in a process to identify Richard's successor," Lead Independent Director Dusty McCoy said in a statement.
Quirk, who joined Freeport in 1989, was part of various departments before being named the CFO in 2003. She has served as the president of Freeport since 2021 and became a board member last year.
Through her over 30-year stint, she has been instrumental in Freeport's strategic planning and execution of company goals.
"Kathleen's strong business and strategic acumen and increasing levels of responsibility over many years have demonstrated she has the skills to lead our company," Adkerson said in a statement.
(Reporting by Mrinalika Roy in Bengaluru; Editing by Anil D'Silva and Sherry Jacob-Phillips)