Rio Tinto (ASX:RIO) Announces CEO Succession Plan
Leadership Succession
Rio Tinto announced that Chief Executive Jakob Stausholm will step down from the Group later this year after a succession process. Jakob joined Rio Tinto in 2018 as Executive Director and Chief Financial Officer. He became Chief Executive in January 2021. Jakob will continue to lead Rio Tinto while a successor is appointed. A rigorous selection process is already underway, led by the Nominations Committee.
Executive Comments
Rio Tinto Chair Dominic Barton said, “Under Jakob’s leadership, Rio Tinto has restored trust with key stakeholders, aligned our portfolio with the commodities where demand growth is strongest, built a diverse and talented management team, and set a compelling growth trajectory. Our focus on these things is undiminished and our strategic priorities are unchanged. This is a natural moment to appoint Jakob’s successor, as we look ahead to our next phase in which we will double down to deliver greater operational performance to realise the full potential of our assets. I would like to thank Jakob for his significant contribution to Rio Tinto at a critical time in its evolution.”
Rio Tinto Chief Executive Jakob Stausholm said, “It has been an absolute privilege to lead Rio Tinto, one of the great mining and materials companies in the world. I would like to thank the deeply dedicated and talented people across the organisation that together have raised both operational performance and project execution. We have built on Rio Tinto’s historic strengths to deliver profitable, stable growth and significant shareholder value. I know the company will continue to thrive long into the future.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.
