BHP Billiton Chairman Will Not Stand for Re-election

CEO says aspirational goal for "gender balance" at all levels.

BHP Billiton (BHPLF) Chairman Jac Nasser will not seek re-election at next year's annual general meeting (AGM), he announced on Thursday.

Nasser said he had intended to announce his retirement last year but agreed to stay on at the mining company to provide stability as BHP Billiton responded to the Samarco dam disaster in Brazil.

Now that the "basic structure of the Samarco response is in place," he will not seek re-election, Nasser said in a speech at this year's AGM in London.

Nasser did not name his successor but said he would continue to lead the board in the interim.

BHP's chief executive, Andrew Mackenzie, in a separate speech said that the company had set a 2025 goal of achieving "gender balance at all levels of the organisation over the next decade".

The 12-strong board currently has three women members.

Reporting by Mamidipudi Soumithri