Freeport-McMoRan reshuffles top jobs

New Orleans-based copper and gold miner Freeport-McMoRan Copper & Gold Inc. (FCX) announced today that it has separated the roles of Chairman and Chief Executive Officer to strengthen its corporate governance structure.The company also appointed several senior officials.

According to the company?s release, President Richard C. Adkerson 56 years old, will take CEO post from James R. Moffett, 65 years old and continuing as President. Adkerson will take over the executive management of the company. Moffett will remain the company?s Chairman and will focus on business strategy and on Indonesia where FCX's primary operations are located.

FCX will continue to be managed through an Office of the Chairman, consisting of Moffett and Adkerson .

Kathleen L. Quirk, 40 years old, has been named Senior Vice President, Chief Financial Officer and Treasurer of FCX. Quirk has fourteen years of experience in the Freeport-McMoRan organization, most recently as FCX's Treasurer and Vice-President of Finance and Business Development.

Mark J. Johnson, 44 years old, has been named Senior Vice President and Chief Operating Officer of FCX. During his eighteen year career with Freeport-McMoRan, Johnson has been involved in PT-Freeport Indonesia's (PT-FI) mine and milling operations, most recently as Vice President of Operations, responsible for mine planning for the Grasberg operations and leads our headquarters technical support team supporting the Company's mining, project development and metallurgical activities. Johnson spent five years working on-site at PT-FI's Grasberg operations in Papua, Indonesia.

Michael J. Arnold, 51 years old, has been named Chief Administrative Officer of FCX. After serving as Freeport-McMoRan's Chief Management Information Officer and in a number of senior administrative positions, Arnold relocated to PT-FI's jobsite in Papua, Indonesia in 2000, where he serves as Executive Vice President of PT-FI in the Office of the General Manager with General Manager, Hermani Soeprapto. He will continue to be located in Papua as a key member of PT-FI's Executive Management Committee headed by Adrianto Machribie, President Director of PT-FI, where he will focus on productivity initiatives, manpower development and the development and execution of operating business plans.

Dean T. Falgoust, 45 years old, has been named General Counsel of FCX, following an eighteen-year career in the Freeport-McMoRan organization, most recently as Vice President - Tax and Legal Services. Falgoust will continue to serve as FCX's Chief Compliance Officer. (alex)

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