Anglo-Australian mining titan Rio Tinto announced a shake-up to its executive team and organizational structure yesterday.
“In the face of testing times for the industry, Rio Tinto is performing remarkably well. Our ambition is to deliver superior performance day-in and day-out so that we create value for our shareholders and communities now and over the long term,” said Rio Tinto’s new chief executive Jean-Sébastien Jacques.
“Our strategy, commitment to balance sheet strength and focus on shareholder returns will not change; but we are strengthening our structure and delivery by placing our assets at the heart of the business to drive improved performance.”
The firm’s structure will consist of four product groups as of July 2 – Aluminium, Copper & Diamonds, Energy & Minerals and Iron Ore. A fifth group, the Growth & Innovation group, will be dedicated to developing future assets and providing technical support to the other four groups.
Along with the organizational realignment described above, Rio Tinto’s executive team is getting a make-over as well. The new executive leadership team, effective June 2 as well, is as follows:
- Jean-Sébastien Jacques, chief executive
- Christopher Lynch, chief financial officer
- Hugo Bague, Organisational Resources Group executive
- Alfredo Barrios, Aluminium chief executive
- Alan Davies, Energy & Minerals chief executive
- Joanne Farrell, Health, Safety & Environment Group executive
- Stephen McIntosh, Growth & Innovation Group executive
- Chris Salisbury, Iron Ore chief executive
- Arnaud Soirat, Copper & Diamonds chief executive
- Debra Valentine, Legal & Regulatory Affairs Group executive
“I am pleased to unveil our new executive team which represents seven nationalities and is as diverse as it is experienced. Each new team member has more than 20 years’ experience in the resources sector, which complements the deep expertise of the existing executive team,” opines Jacques. “We will work together with all of our employees around the world to build an even stronger company, well positioned for delivering returns and building growth.”
Iron Ore chief executive Andrew Harding will not be part of the executive team going forward; he is leaving on July 1.
“I want to thank Andrew for his dedication and commitment to Rio Tinto after almost 25 years with the business, including six years on the Executive Committee,” said Jean-Sébastien Jacques. “Andrew has held important roles in Australia, the United Kingdom and the United States. During his long career with the company he has led our global Iron Ore and Copper businesses, delivering marked performance improvements. We wish him the best for the future.”