Billionaire mining CEO fined $8.8m amid investigation, which follows accusations he failed to disclose revenue generated by overseas entities to tax authorities
Billionaire mining boss Chris Ellison will leave Mineral Resources as part of an “orderly transition” within 18 months after the company’s board found the chief executive had at times used company resources for his personal benefit.
The mining and services company ordered an investigation into its founder over various allegations including Ellison’s decision not to disclose revenue generated by overseas entities to tax authorities before the company was listed; an issue for which theThe company’s chair, James McClements, will also step down at or before next year’s annual general meeting, the company said.
Separately, MinRes found that the chief executive, on occasion, used company resources for his personal benefit.
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