SYDNEY: Rio Tinto announced Thursday that Chief Executive Jakob Stausholm will step down later this year following the conclusion of a succession process.
Stausholm, who joined the global mining company in 2018 as executive director and chief financial officer, has led Rio Tinto since January 2021. During his tenure, he recalibrated the company’s strategy to align with the energy transition and set a path for a decade of profitable growth.
Until a successor is appointed, Stausholm will remain in his role as chief executive and continue serving on the board of directors. The company’s nominations committee has already launched a rigorous selection process.
Rio Tinto Chair Dominic Barton praised Stausholm’s leadership, stating that he had “restored trust with key stakeholders, aligned our portfolio with high-demand commodities, built a talented management team, and established a compelling growth trajectory.” Barton added that appointing a new leader at this juncture would allow Rio Tinto to enhance operational performance and unlock the full potential of its assets.
Stausholm said leading the company had been “an absolute privilege” and thanked Rio Tinto employees for their dedication. “We have built on Rio Tinto’s historic strengths to deliver profitable, stable growth and significant shareholder value,” he said. “I know the company will continue to thrive long into the future.”
Rio Tinto did not provide a timeline for announcing Stausholm’s successor.