Former Royal Bank of Scotland chief executive Ross McEwan has been named chairman of mining giant BHP.

He succeeds Ken MacKenzie, who will retire at the end of March after eight years in the role.

Mr McEwan, who has served as independent non-executive director since April of last year, has more than 30 years’ global executive experience, particularly in the financial services industry, having worked as the CEO of National Australia Bank from 2019 to 2024 and CEO of the Royal Bank of Scotland from 2013 to 2019.

He also held executive roles at Commonwealth Bank of Australia, First NZ Capital Securities and National Mutual Life Association of Australasia / AXA New Zealand.

Mr MacKenzie said BHP had become “a simpler, more productive and more resilient company” during his tenure.

Last year, the company abandoned attempts to buy Anglo American after its rival rebuffed a series of proposals worth up to £39 billion.

Mr McEwan said: “Ken will be remembered for his strategic decision-making, active institutional and retail shareholder engagement and outstanding capacity to see value, whether that’s in strategy, portfolio, operational excellence or capital allocation.

“As incoming chair, I am committed to generating long-term value for all our shareholders and will work tirelessly with the board and management to achieve this. I look forward to continuing to take this great company forward,” McEwan said.