Rio Tinto appoints new CEO

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Rio Tinto has announced the appointment of Jakob Stausholm as chief executive, effective 1 January 2021.

Mr Stausholm, who joined Rio Tinto as an executive director and chief financial officer in 2018, is an experienced global executive, with 25 years in leadership roles in capital intensive and service industries across Europe, Latin America and Asia-Pacific.

Prior to joining Rio Tinto, he was the Chief Strategy, Finance and Transformation Officer for the Maersk Group from 2016, having joined the Maersk Group in 2012. From 2008 to 2011, he was Group Chief Financial Officer of the global facility services provider ISS A/S.

Previously, Mr Stausholm worked for Shell for almost 20 years across Europe, Latin America and Asia-Pacific, with roles including Vice President, Finance for Asia-Pacific, and chief internal auditor. He was also a non-executive director with Australian energy company Woodside Petroleum.

Commenting on the appointment, Rio Tinto Chairman Simon Thompson said Mr Stausholm’s blend of strategic and commercial expertise, strong values and a collaborative leadership style made him the ideal candidate to replace outgoing CEO J-S Jacques, who will step down from his role from 1 January 2021 and will leave the Group on 31 March 2021.

“Jakob has already made a significant contribution to the performance of the Group in his role as Chief Financial Officer,” Mr Thompson said.

“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.”

Mr Stausholm said he was “truly delighted and humbled” to be given the opportunity to lead Rio Tinto.

“Since I joined two years ago, I have spent extensive time at our operations, meeting our excellent people and have also engaged with many of our valued partners,” he said.

“Rio Tinto’s purpose is to produce the materials essential to human progress and I remain deeply committed to this after the difficult times we have faced during 2020.

“I look forward to leading Rio Tinto and working with my colleagues across the business to ensure that we maintain strong safety, operational and financial performance, while progressing our growth, sustainability and technology strategies.

“I am also acutely aware of the need to restore trust with Traditional Owners and our other stakeholders, which I view as a key priority for the company.”

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