Freeport-McMoRan Inc named long-time Chief Executive Officer Richard Adkerson as chairman of the board, the U.S. miner said on Tuesday.
Adkerson, 74 and CEO since 2003, said he has no plans to retire and is healthy.
The company also said Gerald Ford would retire as director upon the end of his current term in June. Ford would step down as non-executive chairman of the board.
Freeport added it has reinstated dividend on its common stock at an annual rate of $0.30 per share, an increase of $0.10, prior to suspending the payments in April last year.