Canada puts its big miners off limits just as M&A is heating up
Foreign takeovers of mining companies have been a touchy topic ever since a wave of deals 18 years ago took out some of the country’s biggest players.
Rio Tinto (ASX, LON, NYSE: RIO) unveiled its new executive team on Wednesday, under a new organizational structure to rebuild trust following an international outcry over the miner’s destruction of sacred Aboriginal rock shelters.
Rio Tinto’s chief executive Jakob Stausholm – who assumed the role this month, replacing Jean-Sébastien Jacques after the destruction of sacred Aboriginal caves, has appointed a permanent chief executive of the iron ore business, created a chief operating officer (COO) role, and added a chief executive, Australia to his leadership team.
Simon Trott, currently chief commercial officer, will become iron ore chief executive; copper & diamonds chief executive Arnaud Soirat will become group COO; and Kellie Parker, now managing director, pacific operations aluminum, will join the executive committee as chief executive Australia.
In her role as Chief Executive Australia, Kellie Parker will focus on rebuilding trust and strengthening external relationships across Australia
“I want to re-establish Rio Tinto as a trusted partner for host communities, governments and other stakeholders,” Stausholm said in a media release.
“Now the work starts for ExCo, with a full agenda ahead of us and a determination to become a strong team. I am confident that together we can unleash Rio Tinto’s full potential.”
Rio Tinto will retain four product groups – aluminum, copper, iron ore, and minerals, which will now also include the diamonds business.
In addition to Simon Trott’s appointment, Ivan Vella, currently interim iron ore chief executive, will become aluminum chief executive; energy & minerals chief executive Bold Baatar will become copper chief executive; and Sinead Kaufman, currently managing director operations copper & diamonds, will join ExCo as minerals chief executive.
In her role as chief executive Australia, Kellie Parker will focus on rebuilding trust and strengthening external relationships across Australia, the company said.
Vera Kirikova, chief people officer, has decided to leave the company.
Comments
Gerhardt kariseb
Rio tinto in namibia is of high quality since inception of rosng uranium and other drilings and prospectings, congratulations with new management team. Well done. Kariseb/khorixas, Mesopotamia farm