Elliott calls for BHP board overhaul as new chairman looms

SYDNEY, June 14 (Reuters) - Activist shareholder Elliott Management called on BHP Billiton on Wednesday to "upgrade" it board of directors as the mining giant prepares to select a new chairman.

"BHP has an entrenched board, with long-tenured directors having approved the disastrous acquisitions and poorly timed share buybacks that are at the root of much of todays underperformance," Elliott said in a statement.

"A significant upgrade in directors is needed," it said. (Reporting by James Regan; Editing by Paul Tait)