Billionaires Andrew and Nicola Forrest have stepped down as chairs of the philanthropic foundation they founded more than 20 years ago.
The Minderoo Foundation shakeup, announced this afternoon, came less than a year and a half after they announced their separation following 31 years of marriage.
At the time the pair, then believed to be Australia’s richest couple, said their separation wouldn’t have any impact on their mining company, Fortescue Metals, or other projects such as Minderoo and their flagship company, Tattarang.
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Barrister and philanthropist Allan Myers will takeover as the chair of Minderoo and the Forrests will continue as non-executive directors.
They said it was the right time to step aside, given the foundation was well established as one of the Asia-Pacific region’s “leading philanthropies”.
“We couldn’t be more proud of what has been achieved over the past 23 years, and with Minderoo’s 2030 strategy now finalised and being implemented, it is the right time for change on the board,” they said, in a joint statement.
“Under Allan’s stewardship as the independent chair we know Minderoo will continue delivering on its mission to forge a fair future by challenging inequalities and campaigning for meaningful change.”
Mr Forrest, commonly known as “Twiggy”, said he was stepping aside to focus on the ambitious goal of transitioning Fortescue and global industry to “real zero” by 2030.
Real zero means eliminating carbon emissions without relying on carbon offsets or carbon capture, as distinguished from net zero, which the magnate previously referred to as a “con”, given significant problems with greenwashing.
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“I have an unshakeable passion for steering the world away from a potentially catastrophic future, and will continue to steer Minderoo, Tattarang and Fortescue in the one direction – to ensure we leave our planet liveable for future generations,” he said.
“Fortescue’s work to unapologetically pursue Real Zero by 2030 both profitably and globally will maintain its preeminent position as the lowest cost iron ore producer in the world, and Australia’s most successful company.
“Scientists and businesses worldwide have endorsed the reality that Real Zero 2040 – the cessation of the use of all fossil fuels by 2040 is the only way that we will avoid a climate emergency.”
Myers, who’s been on the Minderoo board since 2004, said he was honoured to take over.
“The unprecedented generosity, vision and optimism of Andrew and Nicola Forrest is embodied in the Minderoo Foundation,” he said. “I will do my best as Chair to help realise their aspirations for the enduring benefit of Australia and the wider world.”
Earlier this month Minderoo pledged $18 million in humanitarian aid to Gaza, as Mr Forrest called on other philanthropists and big business to respond to the humanitarian crisis.
In February, the charity became the first non-government partner to join the World Food Programme (WFP) and Food and Agriculture Organisation of the United Nations (FAO) de-mining program, donating $5 million for mine clearance projects in Ukraine.
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