BHP Billiton, the world’s largest mining company, on Thursday ended its search for a new chief executive by appointing Marius Kloppers, one of its directors, to the top job.

South African-born Mr Kloppers will replace Charles “Chip” Goodyear, who announced his retirement in February and will stand down at the end of September. Mr Kloppers has been heading the company’s highly profitable non-ferrous materials division, which includes the copper business, and was seen as one of the leading candidates for the job.