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Investing.com -- Rio Tinto (NYSE:RIO) announced on Thursday that CEO Jakob Stausholm will step down later this year, with a formal process to find his successor already in progress.
Stausholm, who took over leadership in early 2021, will remain in his role until a replacement is named. “A rigorous selection process is already underway, led by the Nominations Committee,” the company stated in its announcement to the London Stock Exchange (LON:LSEG).
His appointment followed a period of turmoil for the world’s top iron ore producer, after the destruction of the ancient Juukan Gorge caves led to widespread backlash. Stausholm replaced Jean-Sébastien Jacques, who departed amid criticism of the company’s response to the incident.
Since joining Rio Tinto in 2018 and becoming CEO three years later, the Danish executive has focused on steering the miner toward assets tied to the energy transition. Prior to Rio, Stausholm held senior roles at A.P. Moller - Maersk and served on IBM’s advisory board.