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Rio Tinto makes internal hire as it names Jakob Stausholm as new CEO

The company announced incumbent chief executive J-S Jacques would step-down in September amidst controversy following the destruction of historical aboriginal sites at Juukan Gorge in Pilbara, Australia.

Rio Tinto PLC - Rio Tinto makes internal hire as it names Jakob Stausholm as new CEO
Pilbara landscape, image source: https://www.riotinto.com

Rio Tinto PLC (LON:RIO) has named Jakob Stausholm as the mining major’s new chief executive, effective January 1 2021.

Stausholm has been chief financial officer and an executive director of the group since 2018 and he will now succeed J-S Jacques who will leave the company on March 31 2021.

Simon Thompson, Rio chairman, in a statement, said: "Jakob has already made a significant contribution to the performance of the Group in his role as Chief Financial Officer.

“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."

Stausholm, meanwhile, commented: "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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Price: 4823.1284 GBX

Market Cap: £78.08 billion

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