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- Rio Tinto (RIO) has appointed Jakob Stausholm as chief executive, effective January 1 2021
- Jakob is an experienced global executive with 25 years experience in leadership roles across capital intensive and service industries
- He joined Rio in 2018 as executive director and Chief Financial Officer
- As a result of Jakob’s appointment, Peter Cunningham will be appointed interim Chief Financial Officer, effective January 1
- Furthermore, CEO Jean-Sébastien Jacques will be stepping down from his role as executive director and chief executive, effective January 1
- This follows the recent blasting of a 46,000 year-old Aboriginal heritage site which held extraordinary archaeological significance to Australia
- Rio has ended the day 1.81 per cent in the green with shares trading at $116.44
Rio Tinto (RIO) has appointed Jakob Stausholm as chief executive, effective January 1 2021.
Jakob is an experienced global executive with 25 years experience in leadership roles across capital intensive and service industries in Latin America, Europe, and the Asia-Pacific.
He joined Rio in 2018 as executive director and Chief Financial Officer, roles in which he delivered significant shareholder return and strengthened the company’s balance sheet.
Prior to joining Rio, Jakob was Group Chief Financial Officer and Strategy & Transformation Officer of A.P. Moeller – Maersk A/S.
“I 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,” Jakob said.
“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,” he added.
Company chairman Simon Thompson is pleased for Jakob to join the team.
“His [Jakob’s] blend of strategic and commercial expertise, strong values and a collaborative leadership style are the ideal qualities for our next chief executive,” he commented.
“Jakob 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 added.
As a result of Jakob’s appointment, Peter Cunningham will be appointed interim Chief Financial Officer, effective January 1.
Peter was previously Group Controller of Rio and has been with the company for the past 27 years.
Furthermore, CEO Jean-Sébastien Jacques will be stepping down from his role as executive director and chief executive, effective January 1.
This follows the recent blasting of a 46,000 year-old Aboriginal heritage site which held extraordinary archaeological significance to Australia.
“He [Jean-Sébastien Jacques] leaves the group in an exceptionally strong financial position, having delivered significant shareholder returns, sector-pending profitability and value creation, and an outstanding safety performance,” Simon concluded.
Rio has ended the day 1.81 per cent in the green with shares trading at $116.44 in a $42.45 billion market cap.
