17th Dec 2020 09:19
(Alliance News) - Rio Tinto PLC on Thursday announced the promotion of Chief Financial Officer Jakob Stausholm to chief executive officer, with effect on January 1.
He will be replacing Jean-Sebastian Jacques, who it was announced in September would resign with effect at the end of March, or earlier should a successor be appointed before then. He will step down from his role as an executive director on January 1, the company said on Thursday, and leave the group at the end of March.
In May, Rio Tinto had blasted rock shelters in the Juukan Gorge in Western Australia's remote Pilbara region, destroying one of the earliest known sites occupied by Australia's indigenous people in order to expand its iron ore mine.
Following a board review in August, the group said it had engaged extensively with shareholders, some of which had expressed concerns about executive accountability for the failings identified.
Stausholm first joined Rio Tinto in 2018 as executive director and chief financial officer, and before that was CFO and strategy & transformation officer of Danish shipping firm AP Moeller - Maersk A/S.
Replacing Stausholm in the role as chief financial officer will be Controller Peter Cunningham on an interim basis.
"I am pleased to announce the appointment of Jakob as chief executive of Rio Tinto. His blend of strategic and commercial expertise, strong values and a collaborative leadership style are the ideal qualities for our next chief executive. Jakob has already made a significant contribution to the performance of the group in his role as chief financial officer," said Chair Simon Thompson.
"He has a proven track record as a senior executive with deep industrial and resources experience spanning strategy development and technology, as well as financial and risk management. He has also demonstrated the ability to build effective relationships and has a strong personal commitment to the role of business in promoting sustainable development," Thompson added.
Shares in Rio Tinto were up 1.8% at 5,647.00 pence on Thursday in London.
By Dayo Laniyan; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Rio Tinto