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Freeport's Moffett stands down

James Moffett, Freeport-McMoRan’s co-founder and chairman, has announced he will step down from his executive and board member roles, with lead independent director Gerald Ford replacing him as non-executive chairman.

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James Moffett will continue to help Freeport in its CoW discussions with the Indonesian Government (photo: MineSight)

Moffett, who served as chairman since 2003, has agreed to become a consultant to the board and will help the company in its discussions with the Indonesian Government over its Contract of Work