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LONDON - Mining giant Rio Tinto (NYSE:RIO) announced today that its Chief Executive, Jakob Stausholm, will step down from his role later this year, following the completion of a succession planning process. Stausholm, who joined the company in 2018 as Executive Director and Chief Financial Officer, ascended to the role of Chief Executive in January 2021.
During his tenure, Stausholm has been credited with reorienting Rio Tinto’s strategy to capitalize on the energy transition and setting the group on a path aimed at a decade of profitable growth. The company has highlighted that under his leadership, it has rebuilt trust with key stakeholders and aligned its portfolio with commodities that are expected to see strong demand growth.
Rio Tinto Chair Dominic Barton expressed his gratitude to Stausholm for his significant contributions at a pivotal time for the company. Barton emphasized that the strategic priorities of the company remain unchanged as they enter a new phase focused on delivering enhanced operational performance to maximize the potential of their assets.
The process of selecting a new Chief Executive is currently being led by the Nominations Committee. Stausholm will continue in his role as Chief Executive and as a member of the Board of Directors until a successor is appointed.
Reflecting on his time at the helm of Rio Tinto, Stausholm stated that it was an honor to lead the company and acknowledged the collective efforts of the Rio Tinto team in improving operational performance and project execution. He expressed confidence in the company’s continued success in the future.
The announcement comes as Rio Tinto continues to navigate the complexities of the global mining industry, with a focus on sustainable practices and the increasing demand for materials essential for modern technologies and green energy solutions.
This news is based on a press release statement from Rio Tinto.
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