Tribeca planning to target overhaul of BHP board directors

BHP Billiton’s board is being targeted for a sweeping overhaul by Tribeca Global Natural Resources Fund, opening a potential new front in the burgeoning activist campaign against the world’s biggest mining company. The Sydney-based hedge fund, which last month joined billionaire Paul Singer’s Elliott Management in calling for changes aimed at shifting strategy at BHP, believes about five or six members of the 11-person board need to be replaced, portfolio manager Craig Evans said Tuesday in a phone interview. BHP declined to comment.