15th Jul 2025 09:01
(Alliance News) - Rio Tinto PLC on Tuesday named its iron ore head Simon Trott as its next chief executive, replacing Jakob Stausholm from August 25.
Trott previously served as the London-based miner's chief commercial officer, the first person to hold that role.
"As iron ore chief executive, Simon has strengthened the business and improved operational performance, underpinned by safety and financial discipline; reset partnerships with key stakeholders; and secured the future growth of the business with new mine developments," Rio Tinto said.
In May, Rio Tinto said Stausholm will step down as chief executive "later this year", following the end of a succession process.
The company said on Tuesday that he will leave the role once Trott takes on the position.
Stausholm joined Rio in 2018 as chief financial officer and became CEO at the start of 2021.
Stausholm added: "It has been an absolute privilege to lead Rio Tinto for nearly five years, during an important chapter in its history. Working together, our brilliant people across the group have built genuine momentum, setting out a pathway to a decade of profitable growth. As the chief executive of our largest business during this time Simon has been an integral part of the journey; I am certain that under his leadership the group will continue to thrive and deliver value for its stakeholders."
Chief Executive Designate Trott said: "It is a privilege to have the opportunity to lead Rio Tinto, and I am excited about our future. The progress we have made over recent years gives us a foundation to build on with discipline and focus to deliver improved performance. With our outstanding assets and people around the world, we are well positioned to grow value for shareholders and the communities who host us."
Rio Tinto said the search process built upon succession planning work over a two-year period and included potential internal and external candidates.
Shares in Rio Tinto were up 0.2% at 4,434.00 pence in London on Tuesday morning.
By Michael Hennessey, Alliance News reporter
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