Brandon Craig is preparing to take over as CEO of BHP on July 1, 2026, inheriting a plate full of challenges including industrial action threats, escalating costs, and a competitive M&A landscape. Craig, a 25-year veteran at BHP, is expected to bring continuity to the company's focus on "future-facing commodities" like copper and potash, but also faces pressure to demonstrate capital discipline, especially after a recent $2.3 billion charge due to cost overruns at the Jansen Stage 2 potash project. This project, which was under Craig's purview as head of Americas, now has an estimated cost of $6.9 billion, up from $4.9 billion.
Craig's appointment, announced in March, signaled a focus on internal operational talent. However, CEO transitions often lead to significant executive departures, with some senior leaders like CFO Vandita Pant and Australia President Geraldine Slattery having been considered contenders for the top job. An immediate concern for Craig will be the growing threat of strikes in Australia's iron ore sector, with unions at BHP's Port Hedland operations threatening coordinated industrial action if talks on July 7 fail.
While Craig is not anticipated to pursue large-scale mergers and acquisitions immediately, similar to his predecessor Mike Henry, the current industry environment may present opportunities. Analysts suggest that bolt-on acquisitions could be considered for growth, and areas like uranium, where BHP already produces around 5% of global supply as a byproduct from Olympic Dam, could become more significant despite the company’s previous hesitations about returns from this smaller market. Craig's performance will ultimately be judged on cost control, workforce stability, and project delivery.
