- Published: Tuesday, 05 January 2016 16:19
- Written by Francesca Peeples
James R. “Jim Bob” Moffett, chairman and co-founder of Freeport McMoRan, will step down. The board has elected Gerald J. Ford as nonexecutive chairman. During his more than 50-year career in the natural resource industry, Moffett became an icon as an explorationist. He was instrumental in the discovery and development of the Grasberg deposit in Indonesia, which has grown to become one of the world’s largest copper and gold deposits. Moffett has served as executive chairman of FCX since 2003 and previously served as the company’s CEO from 1995 to 2003. In 1969, Moffett and two associates founded McMoRan Oil & Gas Co., which merged with Freeport Minerals.