Rio Tinto Ltd's (LSE:RIO, ASX:RIO, OTC:RTNTF) new chief executive is reorganising the group's organisational structure into three core product groups – copper, iron ore, and aluminium & lithium – while putting smaller businesses under review.
Along with the associated leadership changes, the FTSE 100 miner said these tweaks are designed to "drive greater accountability and safe, sustainable, profitable growth".
Simon Trott, who was appointed CEO in July, will now have three product group chief executives reporting to him, rather than five previously.
The iron ore product group will be led by Matthew Holcz, bringing together the group’s Western Australian operations with Iron Ore Company of Canada and Simandou. Holcz joins the board, having most recently been managing director of the group's 18 iron ore mines in the Pilbara region.
Katie Jackson remains chief executive of copper, while the aluminium & lithium business will be headed by Jérôme Pécresse.
The two non-core product groups are minerals, including borates, titanium and diamonds, with the latter recently divested; and energy & minerals, which included the since-sold-off coal business, and lithium.
Lithium boss Sinead Kaufman is leaving as part of the changes, after nearly 30 years with the company, while Kellie Parker will also depart as the chief executive Australia role is done away with.
Trott said: “A simplified business structure, grounded in our fundamental commitment to safety and with sharper focus on the most compelling opportunities we have, will enable us to deliver new standards of operational excellence and value creation.”
Borates and Iron & Titanium will move under the chief commercial cfficer’s portfolio for strategic review.