BHP Billiton's chief executive Marius Kloppers will retire from the role in May.
The announcement came as the global resources giant posted a 58 per cent fall in first half profit to $US4.24 billion ($A4.14 billion) due to lower commodity prices and a weak US dollar.
Mr Kloppers is to be replaced by the 56-year-old head of BHP's non-ferrous business, Andrew Mackenzie.
