Rio Tinto Appoints Mr Jakob Stausholm as Chief Executive

Rio Tinto has appointed Mr Jakob Stausholm as chief executive, effective 1 January 2021. Since joining Rio Tinto as an executive director and chief financial
Rio Tinto Appoints Mr Jakob Stausholm as Chief Executive
Rio Tinto Jakob StausholmThe Australian

Rio Tinto has appointed Mr Jakob Stausholm as chief executive, effective 1 January 2021. Since joining Rio Tinto as an executive director and chief financial officer in 2018, Mr Stausholm has played a leading role in the Group’s strong performance, maintaining capital allocation discipline and delivering significant shareholder returns, while strengthening the balance sheet. Mr Stausholm is an experienced global executive, with 25 years in leadership roles in capital intensive and service industries across Europe, Latin America and Asia-Pacific. Prior to joining Rio Tinto, he was Group Chief Financial Officer and Strategy & Transformation Officer of AP Moeller Maersk A/S. Previously, he was Group Chief Financial Officer of the global facility services provider ISS A/S. Before that, he spent two decades with Royal Dutch Shell in numerous financial positions globally and as Chief Internal Auditor for the group.

Mr Stausholm also brings broad non-executive experience having served as non-executive director of Statoil ASA, including six years as Chairman of the Audit Committee. He was also a non-executive director with Australian energy company Woodside Petroleum.

As a result of Mr Stausholm’s appointment, Peter Cunningham will be appointed interim chief financial officer of Rio Tinto, effective 1 January 2021. Peter was previously Group Controller for Rio Tinto and has held a number of senior finance and leadership roles across Rio Tinto in a career spanning 27 years with the company. Prior to joining Rio Tinto, Peter qualified as a chartered accountant.

Given the effective date of Mr Stausholm’s appointment, J-S Jacques will step down from his role as an executive director and chief executive of Rio Tinto with effect from 1 January 2021 and will leave the Group on 31 March 2021.

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