TUCSON (KGUN9-TV) - Freeport-McMoRan announced that a high-ranking executive has stepped down.
The company says James R. Moffett, a co-founder, long-time executive and chairman of the board, is leaving the company. He will be a consultant to the board.
Gerald K. Ford will replace Moffett as non-executive chairman. He has been the company's lead independent director since 2013.
The Phoenix-based company, which operates several mines in the state, has made some shake-ups lately, announcing the closure of the Sierrita Mine, which includes hundreds of layoffs. The company employs more than 5,000 people.
