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Malcolm Turnbull severs ties with Fortescue


Former Reserve Bank deputy governor Guy Debelle was also a director of AFFI before severing ties in August 2023.

AFFI never directly held any operational assets and Mr Turnbull’s focus during the past three years was largely on the establishment of an international member association for hydrogen producers, the Geneva-registered Green Hydrogen Organisation.

Mr Turnbull was still chairman of the Green Hydrogen Organisation on Tuesday.

His retirement from AFFI comes six months after Fortescue announced plans to rebrand its “Future Industries” division as “Fortescue Energy” and it is understood there will be some rationalisation of the subsidiaries that make up the division.

Two of the original architects of Fortescue Future Industries – former chief financial officer Michael Masterman and former chief scientist Bart Kolodziejczyk – revealed last week they had launched their own green iron start-up that does not use hydrogen nor membranes.

Fortescue shares hit a record high earlier this month on strong iron ore prices and the company will update investors on Thursday.



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