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5h ago

Rio Tinto CEO Jakob Stausholm to Step Down Following Four-Year Tenure

Stausholm's departure triggers a global search for a successor as Rio Tinto reaffirms its strategic focus on growth and energy-transition metals.

The Rio Tinto logo is displayed above the global mining group's booth at the Prospectors and Developers Association of Canada (PDAC) annual conference in Toronto, Ontario, Canada March 7, 2023. REUTERS/Chris Helgren/File Photo
FILE PHOTO: CEO of Rio Tinto Jakob Stausholm attends the 54th annual meeting of the World Economic Forum, in Davos, Switzerland, January 18, 2024. REUTERS/Denis Balibouse/File Photo
Rio Tino CEO Jakob Stausholm photographed at its office in London, England, on May 29, 2024. Photo by Jim Ross For story with Eric Reguly.
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Overview

  • Jakob Stausholm will step down as Rio Tinto's CEO later this year, staying in the role until a successor is appointed through a rigorous selection process.
  • Stausholm became CEO in January 2021, following the Juukan Gorge controversy, and led efforts to restore trust with stakeholders and overhaul workplace culture.
  • Under his leadership, Rio Tinto pursued a strategic pivot toward lithium and energy-transition metals, including the $6.7 billion acquisition of Arcadium Lithium.
  • Rio Tinto chair Dominic Barton emphasized that the company's strategic priorities remain unchanged as it seeks to enhance operational performance and growth.
  • The company continues to face pressure from activist investors over its dual-listing structure, though recent shareholder motions to review it have been rejected.