A Fast exit follows appointment of BHP's new CEO

THE fallout in BHP Billiton's senior executive ranks from last month's rise to power of Marius Kloppers as chief executive-elect continues.

The latest early retirement is John Fast, the group's chief legal counsel and head of external affairs.

Mr Fast's planned departure early in the new financial year means that BHP's office of the chief executive — its most senior executive team — now has more of a United Nations feel than ever.

In keeping with the globalisation of the resources industry, the only home-grown talent in the OCE is company secretary Karen Wood.

The rest are either North American, South African or South American.

Mr Fast's exit was tipped once Mr Kloppers was anointed as the new CEO last month. That was also the case with Chris Lynch, group president, carbon steel materials.

Mr Lynch was Mr Kloppers' main competition for the top job and when he was overlooked, he was quick off the mark, announcing on June 6 that he would be leaving.

Initial speculation was that it would be Mr Lynch and Mr Fast who would leave on Mr Kloppers' rise to the top job. It remains to be seen whether there are more losses in the OCE as Mr Kloppers sets about putting his stamp on the world's biggest mining group.

That also goes for the dozen or so in BHP Billiton's operational executive team, which sits below the OCE.

Mr Fast, 57, joined BHP Billiton in late 1999. "This is a great company and I have enjoyed being part of its tremendous success and growth," he said.

The company said an announcement about Mr Fast's replacement would be made "in due course". Until then, Peter De Zwart, regional counsel Americas, will assume the responsibilities of the role.

The internal management machinations have not affected BHP Billiton's market performance. Along with other leading mining issues, the stock has marched into record territory, rising 24¢ to $34.92 yesterday.

Yesterday's rise was despite continuing London-based speculation that a more aggressive Mr Kloppers could revive plans for BHP Billiton to make a $US40 billion takeover bid for US aluminium giant Alcoa.