John B. Prescott

John Barry Prescott (born 22 October 1940) is an Australian retired businessman and corporate bureaucrat who was managing director and CEO of BHP from 1991 to 1998. Over his career, he has held numerous positions including chairman of Queensland Rail and ASC Pty Ltd, and director of Newmont Mining Corporation.

Education Prescott was educated at North Sydney Boys High School where in 1957 as a pupil he was appointed Deputy Librarian. He received a Bachelor of Commerce (Industrial Relations) from the University of New South Wales in 1961. Prescott's time as CEO of BHP coincided with a number of failed investments which lost the company almost $10 billion. '

2000–2009: Australian Submarine Corporation Chairman (2000 – 30 June 2009). Prescott served as chairman of Australian Submarine Corporation, later rebranded ASC Pty Ltd.

2006–2015: Queensland Rail / Aurizon From 2006 to 2010 Prescott was Chairman of the Government of Queensland owned Queensland Rail, that managed the state's passenger and freight railway network. During this time he oversaw the separation of the company into two separate entities: Queensland Rail that operated passenger services and QR National that operated freight services, becoming chairman of the latter. He was chairman of Aurizon from 2010 to 2015. Under Prescott's Chairmanship the company grew significantly. The company's operating ratio improved from 91% in 2010 to 74% Aurizon's share price increased by 95% to $4.96, and under Prescott's stewardship, total shareholder returns increased by 117% from IPO to 30 June 2015. He served as an Independent Director of Newmont Mining Corporation from 2002 to 2013 after it purchased Normandy Mining. and received the Centenary Medal in 2003. The University of NSW awards two scholarships named after Prescott – the John Prescott Scholarship in Human Resource Management and the John Prescott Outstanding Teaching Innovation Award.

He has also held the positions of director of the Walter and Eliza Hall Institute of Medical Research, and member then director of the Business Council of Australia.