RIO TINTO GETS NEW CEO, JAKOB STAUSHOLM T JUMP FROM CFO TO CEO.

Rio Tinto, the mining giant, announces its next Chief Executive Officer. Jakob Stausholm, currently the Chief Finance Officer, is appointed as the CEO of Rio Tinto on Thursday. Many assumed the company would hire an external candidate as CEO to possibly repair its damaged image after the destruction of the sacred Aboriginal rock shelters. But the company has defied the expectations by electing Mr. Stausholm as its CEO. The new CEO position would be effective from January 1, 2021.

Mr. Stausholm joined Rio Tinto in the year 2018 as an executive director and Chief Finance Officer. He has played an important role in the Group’s Strong performance, maintaining capital allocation, discipline, and delivering significant shareholder returns while strengthening the balance sheet.

Chairman of Rio Tinto Simon Thompson said, “I’m pleased to announce the appointment of Jakob as a 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.” After this Jakob Stausholm said, “I’m 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.”

Once Mr. Stausholm is appointed as the CEO, the post of internal chief finance officer would be filled by Peter Cunningham from January 1, 2021. Mr. Cunningham was previously the Group Controller for Rio Tinto.