Mr Ken Ambrecht director of Fortescue Metals Group Ltd has announced his retirement and will step down from the group at its next annual general meeting.

In a statement to the Australian Securities Exchange, Fortescue said Mr Ambrecht will not be standing for re-election to the board. He joined the board of the iron ore miner in October 2003.

Fortescue said Mr Ambrecht's experience in the international finance sector had been significant to the development of the company.

Source - businessspectator.com

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