{"id":401508,"date":"2020-12-17T01:11:15","date_gmt":"2020-12-17T06:11:15","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=401508"},"modified":"2020-12-17T01:11:15","modified_gmt":"2020-12-17T06:11:15","slug":"rio-tinto-appoints-jakob-stausholm-as-chief-executive","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/rio-tinto-appoints-jakob-stausholm-as-chief-executive\/","title":{"rendered":"Rio Tinto appoints Jakob Stausholm as chief executive"},"content":{"rendered":"

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Rio Tinto appoints Jakob Stausholm as chief executive<\/b><\/p>\n

MELBOURNE, Australia–(BUSINESS WIRE<\/a>)–
\nRio Tinto has appointed Jakob Stausholm as chief executive, effective 1 January 2021.\n<\/p>\n

\nSince joining Rio Tinto as an executive director and chief financial officer in 2018, Mr Stausholm has played a leading role in the Group\u2019s strong performance, maintaining capital allocation discipline and delivering significant shareholder returns, while strengthening the balance sheet.\n<\/p>\n

\nMr Stausholm 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 Group Chief Financial Officer and Strategy & Transformation Officer of A.P. Moeller \u2013 Maersk A\/S.\n<\/p>\n

\nPreviously, he was Group Chief Financial Officer of the global facility services provider ISS A\/S. Before that, he spent two decades with Royal Dutch Shell in numerous financial positions globally and as Chief Internal Auditor for the group.\n<\/p>\n

\nMr Stausholm also brings broad non-executive experience having served as non-executive director of Statoil ASA, including six years as Chairman of the Audit Committee. He was also a non-executive director with Australian energy company Woodside Petroleum.\n<\/p>\n

\nRio Tinto chairman Simon Thompson said \u201cI am pleased to announce the appointment of Jakob as Chief Executive of Rio Tinto. His blend of strategic and commercial expertise, strong values and a collaborative leadership style are the ideal qualities for our next chief executive.\n<\/p>\n

\n\u201cJakob 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.\u201d\n<\/p>\n

\nJakob Stausholm said \u201cI am truly delighted and humbled to be given the opportunity to lead this tremendous company. 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.\n<\/p>\n

\n\u201cRio Tinto\u2019s 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.\u201d\n<\/p>\n

\nAs a result of Mr Stausholm\u2019s appointment, Peter Cunningham will be appointed interim chief financial officer of Rio Tinto, effective 1 January 2021. Peter was previously Group Controller for Rio Tinto and has held a number of senior finance and leadership roles across Rio Tinto in a career spanning 27 years with the company. Prior to joining Rio Tinto, Peter qualified as a chartered accountant.\n<\/p>\n

\nGiven the effective date of Mr Stausholm\u2019s appointment, J-S Jacques will step down from his role as an executive director and chief executive of Rio Tinto with effect from 1 January 2021 and will leave the Group on 31 March 2021.\n<\/p>\n

\nMr Thompson said \u201cI would like once again to acknowledge J-S\u2019s strong leadership of Rio Tinto since 2016. He leaves the Group in an exceptionally strong financial position, having delivered significant shareholder returns, sector-leading profitability and value creation, and an outstanding safety performance. J-S and the team have created a very solid foundation for future success.\u201d\n<\/p>\n

\nLEI: 213800YOEO5OQ72G2R82
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Classification: 3.1 Additional regulated information required to be disclosed under the laws of a Member State\n<\/p>\n

Notes to editors<\/b><\/p>\n

Jakob Stausholm<\/b><\/p>\n

\nJakob Stausholm joined Rio Tinto in September 2018 as Executive Director and Chief Financial Officer.\n<\/p>\n

\nPrior to joining Rio Tinto, Mr Stausholm 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.\n<\/p>\n

\nFrom 2009 -16, Mr Stausholm served as a non-executive director of Statoil (now Equinor), including six years as Chairman of the Audit Committee. Between 2006-08, he was also a non-executive director of Woodside Petroleum.\n<\/p>\n

\nMr Stausholm\u2019s core contractual terms such as his notice period will remain unchanged. The structure of the remuneration package will also remain broadly unchanged, except for the base salary, and will comprise the following elements:\n<\/p>\n