New BHP chief takes pay cut as miners suffer

SYDNEY: BHP Billiton's new chief executive will take a pay cut as miners struggle with tougher market conditions, and has stripped out a layer of top executives who were overlooked for the top job and brought operations heads into his management team.

Incoming chief executive Andrew Mackenzie has previously said there would be no major change in the world's biggest miner's strategy but has pledged to focus on slashing costs, improving operations and boosting returns as miners grapple with slower growth in China and volatile commodities prices.