Most stock quote data provided by BATS. Data is a real-time snapshot *Data is delayed at least 15 minutes. Rio Tinto CEO to leave company after destruction of sacred sites The company destroyed two rock shelters in Juukan George in Western Australia state that had been inhabited for 46,000 years. Rio Tinto said on Monday it will cut the short-term bonuses of its chief executive Jean-Sébastien Jacques and two other senior executives following a … All Rights Reserved. Jean-Sebastien Jacques, CEO of Rio Tinto Group poses for a portrait in London in February 2020. by ShippingHerald Finance & Economy, Headlines, Metals, The Wire. The two rock shelters, for instance, had contained artifacts indicating tens of thousands of years of continuous human occupation. Investors were expecting the mining giant would pick an external candidate. Hong Kong (CNN Business)Rio Tinto (RIO) has found a new chief after a crisis this year led to the ouster of its top executive. Former CEO Jean-Sebastien Jacques resigned, along with two deputies, after the miner destroyed sacred Aboriginal rock shelters that, while legal, sparked public and investor uproar. All rights reserved. Rio Tinto said Mr. Stausholm , who joined Rio Tinto in 2018, has played a central role in strengthening the miner's balance sheet, maintaining capital discipline and boosting returns to shareholders. Some investors said the appointment was unlikely to go down well with markets as a more radical change had been expected, with others highlighting Stausholm's lack of operational knowledge as a hurdle. Factset: FactSet Research Systems Inc.2018. Rio Tinto announced the resignation of its CEO and two top lieutenants Friday over the mining giant's destruction of a 46,000-year-old Aboriginal site to … The destruction of the 46,000-year-old Juukan Gorge rock shelters, while legal, sparked public and investor uproar that ultimately led to the resignation of incumbent Jean-Sebastien Jacques and two deputies. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates. 18 Dec 2020 . Rio Tinto's CEO and two other executives linked to the destruction of two Western Australian heritage sites announced their departure on Friday following shareholder anger. Discover more today. SYDNEY--Rio Tinto PLC named chief financial officer Jakob Stausholm as its new chief executive, replacing Jean-Sébastien Jacques who was ousted … Rio Tinto Group named finance head Jakob Stausholm as chief executive officer, tapping a relative newcomer to manage the fallout over its destruction of ancient Aboriginal sites in Australia. Rio's stock in London rose 1.9% on Thursday following the news. French born Mr Jacques, who goes by JS, has been CEO of Rio Tinto since 2016. Shares in London, which are at record highs on booming iron ore prices, had climbed 1.8% by 1135 GMT. New Rio Tinto boss Jakob Stausholm faces the first major test of his tenure as Rio chief executive, with the government of Mongolia renewing threats to … Now, they're losing faith. On Thursday, the mining giant named Chief Financial Officer Jakob Stausholm as CEO. Jean-Sébastien Jacques, the company's chief executive and executive director, will depart by "mutual agreement," Rio Tinto said. Stausholm is a financial guy, focused on details and process and hopefully will be good at stabilising Rio after what has been a very difficult year," said George Cheveley, portfolio manager at Ninety One. Rio Tinto’s promotion of internal candidate Jakob Stausholm to be the next CEO has surprised investors but is being widely supported as a strong choice as … Hong Kong (CNN Business)Rio Tinto (RIO) has found a new chief after a crisis this year led to the ouster of its top executive. Rio Tinto Names Jakob Stausholm as Next CEO -- Update. All rights reserved. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Rio Tinto later apologized for the incident, with its chairman Simon Thompson admitting: "What happened at Juukan was wrong.". Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Rio Tinto named Chief Financial Officer Jakob Stausholm as its next chief executive on Thursday. Based on Rio Tinto submission to the Senate Enquiry, Sam Walsh was the CEO of Rio Tinto when the controversial decision of presenting only one mining plan to the PKKP people was made. A Division of NBCUniversal. Analysts at Morgan Stanley said Stausholm's appointment could indicate little change in the overall strategy but that it  should minimize the typical disruption period caused by management transitions. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Top commodities trader and miner Glencore (LSE: GLEN) is waving its long-term boss Ivan Glasenberg good-bye. Stausholm, who joined Rio as CFO in 2018, is now tasked with the tough job of repairing strained relationships with investors and the Aboriginal community while reforming the mining company to improve oversight. This glass could turn skyscrapers into power generators Hong Kong / Sydney (CNN Business)Rio Tinto (RIO) CEO Jean-Sébastien Jacques has … But it didn't immediately fire any executives, which led to more backlash. Rio Tinto shipped 88.9 million tonnes (Mt) of iron ore in the three months to December, up from 86.8 Mt a year earlier and slightly above UBS’ forecast of 88.6 Mt. Rio Tinto, the world's second-largest listed mining company by market value, said a search for a new CEO was under way and Mr. Jacques would leave sooner than March 31 if a successor is found. "It further raises questions about Rio Tinto's corporate culture over the last few years," he said, adding that it also showed there had been a lack of consultation by Rio Chairman Simon Thompson with investors. Meet the executive committee that continues to drive Rio Tinto forward, ensuring our mining operations and services meet the requirements of the community and are sustainable. Rio Tinto named Chief Financial Officer Jakob Stausholm as its next chief executive on Thursday. Expert: Social media to extremism is like oxygen to fire, Watch this rocket launch from the wing of a jumbo jet, Hear Sandberg downplay Facebook's role in the Capitol riots, Airlines & TSA boost security ahead of Inauguration, Major GOP donor and casino magnate Sheldon Adelson dies, Why Wall Street is hopeful about Biden despite economic challenges, Parler sues Amazon in response to being deplatformed, This tech gives drivers directions on the road in front of them, The online warning signs of the violent Capitol siege, Rio Tinto CEO resigns after destruction of 46,000-year-old sacred Indigenous site. Copyright S & P Dow Jones indices LLC 2018 and/or its affiliates a parliamentary inquiry has called Rio., 2020 ) is waving its long-term boss Ivan Glasenberg good-bye Group poses for a portrait in London 1.9... 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