BHP names a new CEO as Mike Henry heads for the exit after almost seven years

The "Big Australian" will have a new big boss in the new financial year.

Mining giant BHP has announced chief executive Mike Henry will step down from the role on July 1 after notching up six-and-a-half years in the top job.

In a note to shareholders, BHP said Henry would be replaced by Brandon Craig, who currently oversees the company's operations in the Americas.

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Craig has worked at BHP for 25 years, running the miner's iron ore division in Western Australia before moving across the Pacific Ocean to grow the business in Canada, the US and South America.

Worth $252 billion, BHP is Australia's most valuable company and the country's biggest miner with operations spanning the globe.

Craig said it was an honour and a privelige to succeed Henry as CEO.

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"I am committed to leading the talented and hard-working people who make BHP agreat company and continuing to generate long-term value for all our shareholders," he said.

Henry said he was proud of his time at the helm of the company.

"BHP is a safer and higher performing company and is better positioned for future growth," he said.

Announcing the succession plan, BHP chairman Ross McEwan said Craig would help lead the company's executive strategy.

"Im an confident that his discipline and focus will continue to drive BHP's high-performance culture," he said.

The shareholder note highlighted Henry's contribution to the company, claiming that during his tenure the company averaged a 17 per cent a year return to investors.

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