Fortescue Metals Group Ltd (Fortescue) (ASX: FMG) advises of changes to its Leadership and Projects team.

~ Greg Lilleyman, Chief Operating Officer, has resigned from his position, with immediate effect

~ Don Hyma, Director Projects and Manie McDonald, Director Iron Bridge have also resigned from the business

~ Derek Brown, currently General Manager Solomon has been appointed as Acting Director Projects with the support of Fortescue’s senior Projects team

Commenting on the leadership changes, Fortescue Chief Executive Officer, Elizabeth Gaines said, “At Fortescue, our commitment to our values and culture is our highest priority. What we’ve learned through our review of the Iron Bridge project to date, is that we have lost sight of that critical focus.

.....“As CEO I must also take accountability and learn from this. Both Ian Wells, Chief Financial Officer and I will forego all incentive payments this financial year. We take this opportunity to reset the Company’s focus on our culture and values which defines us and makes Fortescue a truly great company. We have a huge depth of talented individuals with Fortescue DNA across the business who will all contribute as we continue our industry leading operational performance.”

This must be very serious.... The only reference I could find is 

"Iron Bridge cost blowouts claim project leaders at Fortescue Metals Group"

put out by The West Australian, but unfortunately, I a not a subscriber

EDIT

North West Telegraph leads with "Andrew Forrest's Fortescue Metals Group could be facing a cost blow-out totalling hundreds of millions of dollars on its Iron Bridge magnetite project in the ......

Again I am not a subscriber so cant see any more...my highlighting