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September 08, 2008


BHP Billiton PLC CEO terms of contract

The Board of BHP Billiton announced the terms of employment for incoming Chief Executive Officer, Marius Kloppers. The contract will be effective from the start of his term as CEO on October 1st 2007.

In announcing the details, BHP Billiton Chairman, Don Argus, said that the terms reflected the Group's remuneration policy, with a significant portion of the total potential remuneration being 'at risk' and subject to the Group's performance.

BHP Billiton noted that Mr Kloppers would be employed under a single contract of service with the BHP Billiton Group with no fixed term. The contract could be terminated by the Group on 12 months' notice or by making payment in lieu of notice to 12 months' base salary plus the amount paid in lieu of a contribution to a superannuation or retirement scheme. Mr Kloppers' performance and remuneration will be reviewed at the end of each financial year.