Simon Trott promoted to Rio Tinto chief executive
Make us a preferred source
Make us a preferred source on Google
The news: Rio Tinto has announced that its current chief executive iron ore Simon Trott will replace Jakob Stausholm as the company chief executive on 25 August.
The context: Trott will be paid a base salary of £1.34 million ($2.75 million). He first joined Rio Tinto in 2012, serving in managing director roles across multiple commodities and countries.
He was later appointed as the diversified miner’s inaugural chief commercial officer based out of Singapore in 2018. Trott moved to Perth in 2021 to take on the chief executive iron ore role.
Rio Tinto managing director, Pilbara mines Matt Holcz will serve as chief executive iron ore until a permanent appointment is made.
Stausholm’s departure was announced in May, with the company saying at the time that he would continue in the role until a successor was appointed. He initially joined the company as chief financial officer in 2021 before moving into the CEO job in 2021.
What they said: “Simon came into our Iron Ore business at a time of significant challenges and has been instrumental in rebuilding culture, strengthening external relationships and setting us on a pathway for growth,” Rio Tinto chair Dominic Barton said.
“Under his leadership, Iron Ore has become a centre of innovation for the Group, driving operational excellence, technology and operating model optimisation – levers Simon can now bring to Rio Tinto at scale.
“I want to again recognise Jakob’s significant contribution to Rio Tinto at a critical time in its evolution. Under his leadership we have rebuilt relationships with key stakeholders, aligned our portfolio with the commodities where demand growth is strongest, and set a compelling growth trajectory.”
The sources: ASX, Rio Tinto media release
