However, the world's fourth-largest iron ore exporter on Monday lost a CEO and reported 23 per cent fall in net profit to $US4.8 billion for the year to June 30, after it slashed the value of its Iron Bridge operation.
Shares in Fortescue fell 5.2 per cent or $1.08 to $19.85 in morning trade as analysts questioned the shock exit of CEO Fiona Hick after a mere five months in the role.
Meanwhile cashflow of $US4.3 billion is expected to bankroll the billionaire's ambition to craft a world-leading green metals and clean energy group.
Fortescue announced the appointment of Dino Otranto as CEO of Fortescue Metals and former CSIRO head Larry Marshall to the board.
"We are 100 per cent science-based in our approach to reducing emissions and phasing out fossil fuels, and Larry's appointment is a reflection of this," Dr Forrest said.
Dr Marshall said it was his experience in leading cutting-edge companies and passion for innovation that makes Fortescue "a natural fit".
Mr Otranto, the latest senior executive after a series of high-profile exits, will lead the metals business and Mark Hutchinson will continue to lead the energy arm.
The underlying net profit was $US5.5 billion, down 11 per cent on a year earlier, as record iron ore shipments of 192 million tonnes partly offset lower international prices amid global economic uncertainty.
Mr Hutchinson said Fortescue Energy maintained momentum in FY23 in decarbonising Australian iron ore operations.
He said the FY23 report shows "our strong financial performance and our goal to tackle climate change and eliminate emissions across our business.
The energy arm has has a target of five final investment decisions by the end of calendar 2023 amid "positive momentum" in the United States, a green deal in Europe and Australia's hydrogen headstart program.
The company said it would no longer set aside 10 per cent of group net profit to fund the energy arm. Instead, all projects and investments will be assessed on their own merits.
Fortescue reiterated FY24 guidance for 192-197 million tonnes, including seven million tonnes from Iron Bridge.
The $4 billion Iron Bridge magnetite joint venture with Formosa Steel in the Pilbara region of Western Australia achieved first production in July, but the FY23 result included an impairment charge of $US726 million on the asset.
The Yindjibarndi people have been in a protracted dispute over the Solomon iron ore hub in the Pilbara, but Fortescue has told the court the case should not be treated as a rehash of a native title claim.
The native title holders argue the mine has impacted close to 250 significant sites, including the destruction of a rock shelter with evidence of human occupation dating back 40,000 years.
"From the outset, Fortescue has been committed to delivering practical initiatives that drive economic and employment opportunities for First Nations people," the company said.
Fortescue declared a fully franked final dividend of $1.00 per share, bringing the total dividend to $1.75 for FY23.
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