1st Jul 2020 11:39
(Alliance News) - Anglo-Australian miner Rio Tinto PLC said Wednesday it has added a new role to its executive committee focused on strategy, technology and climate change.
Peter Toth, who currently runs corporate development, will take on the role of group executive of Strategy & Development. He will be based at Rio Tinto's London headquarters and will focus on the miner's transformation efforts around its business portfolio, climate strategy and closures, as well as taking responsibility for Rio Tinto Exploration & Ventures.
Rio Tinto said the move comes as it considers the next phase of its transformation.
Stephen McIntosh will retire as group executive of Growth & Innovation and Health, Safety & Environment, leaving on September 30 after more than 30 years with Rio Tinto.
Mark Davies, currently head of Global Procurement, will take on the role of group executive of Safety, Technical & Projects. He will focus on safety, health and environment, while building on Rio Tinto's efforts in technology and project delivery, it said. He will be based in Brisbane, Australia.
Both Toth and Davies will join the Rio Tinto executive committee on October 1 and report to Chief Executive Jean-Sebastien Jacques.
"We remain committed to strong performance, disciplined capital allocation and a focus on value over volume as we transform our business to make the most of future opportunities in an increasingly complex world," said Jacques. "With Peter and Mark joining the executive team we will enhance our focus in areas that will be absolutely vital for Rio Tinto's future performance and success - strategy, technology and climate change."
Rio Tinto shares were down 1.1% at 4,497.00 pence in London Wednesday morning. The stock is marginally lower so far in 2020.
By Greg Roxburgh; [email protected]
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