Rio Tinto announces Chief Executive succession plan

LONDON--(BUSINESS WIRE)--Rio Tinto today announced that Chief Executive Jakob Stausholm will step down from the Group later this year, at the conclusion of a succession process.

Jakob joined Rio Tinto in 2018 as Executive Director and Chief Financial Officer, and became Chief Executive in January 2021. As Chief Executive, Jakob has reset Rio Tinto’s strategy to align the group to the opportunities of the energy transition and shaped a pathway to a decade of profitable growth.

Jakob will continue to lead Rio Tinto as Chief Executive and a member of the Board of Directors while a successor is appointed. A rigorous selection process is already underway, led by the Nominations Committee.

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.”

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This announcement contains inside information.
This announcement is authorised for release to the market by Andy Hodges, Rio Tinto’s Group Company Secretary.