Rio Tinto Confirms Mr Peter Cunningham as Chief Financial Officer
Rio Tinto has appointed Mr Peter Cunningham as Chief Financial Officer with immediate effect. Mr Peter, who has been Interim Chief Financial Officer since 1 January 2021, will also join the Rio Tinto Board as an executive director at the same time. Mr Peter was previously Group Controller and has held a number of senior financial and non-financial leadership positions across Rio Tinto in Australia and the UK.
In a career spanning 28 years with Rio Tinto, he has held roles including Global Head of Health, Safety, Environment & Communities; Head of Energy and Climate Strategy; and Head of Investor Relations. Prior to joining Rio Tinto, Mr Peter qualified as a chartered accountant.
Mr Peter Cunningham will be issued a standard Rio Tinto executive contract, which includes a 12-month notice period. The remuneration package is in line with our Remuneration Policy approved by shareholders in 2021, and is comprised of the following elements
A base salary of GBP 700,000
Target annual bonus opportunity at 100% of base salary, with a maximum opportunity of 200% of base salary
A long-term incentive plan award of up to 400% of base salary with the first grant to be made in 2022
A company pension contribution or a cash allowance in lieu of pension equal to 14% of base salary.
Other benefits will include company provided health care coverage and eligibility to participate in the all-employee share plans.