MELBOURNE: BHP Billiton Ltd, the world's largest mining company, named Jacques Nasser, former chief executive officer of Ford Motor Co, to succeed Don Argus as chairman.

Nasser, 61, will take over from Argus in early 2010, the Melbourne-based company said in a statement to the Australian stock exchange. The decision followed an 18-month selection process, the company said.

BHP's new chairman takes the helm as commodities jumped to the highest since October on mounting speculation the global recession is easing, bolstering prospects for mining companies. Sales have risen more than fivefold since the 2001 merger with Billiton Plc that was driven by Argus, who has balanced acquisitions with development of mines and oil fields.