Phoenix-based Freeport McMoRan Inc. (FCX) announced on Feb. 6 that there will be a change at the top this summer, with Kathleen L. Quirk to succeed company CEO Richard C. Adkerson effective June 11. The company stated in a press release that, while Adkerson will continue as chairman of the board, Quirk will take on full responsibility for executive management of the business.

Quirk, a Louisiana State University graduate, joined Freeport in 1989, was named chief financial officer in 2003 and president of FCX in 2021. She joined the board of directors in 2023.

“I am excited to lead this great company,” she said in a press release announcing the transition. “I look forward to continuing to enhance value for our stakeholders through strong execution of our plans, the pursuit of innovation and new technologies to improve efficiency and grow our business through the development of our large resource base to serve an expanding market for our products.”

According to the press release, the board was engaged for some time in finding a successor to Adkerson.

“Kathleen has earned the respect of the Board, the Freeport organization and external stakeholders through her track record of accomplishment, proven leadership and mission for value creation for all stakeholders,” said Lead Independent Director Dusty McCoy.

Adkerson said his 20-plus years as CEO had been an honor. “I am proud to be a member of the Freeport family. Our people are best in class, and together we have made valuable, lasting posting impacts on our industry, our communities and society at large.”