Arcadium shareholders approve $6.7bn sale to Rio Tinto
Shares of Arcadium Lithium rose about 7% in extended trading after the company said that about 98% of its shareholders had voted in favor of the sale.
Rio Tinto Ltd said on Tuesday it had appointed Jerome Pecresse as the new chief executive for its aluminum segment, as the mining giant aims to reduce its carbon emissions and achieve sustainable and low-carbon ways of producing aluminum.
Pecresse, a French citizen who has held senior leadership roles in global mining and energy companies such as GE Renewable Energy, will join the company on Oct. 23, the mining giant said.
“Jerome brings a wealth of experience across renewable energy, mining, business development and strategy, ideal for shaping our industry leading aluminum business for a low carbon future,” Rio Tinto chief executive officer Jakob Stausholm said.
Pecresse will replace Ivan Vella, who announced his departure in mid-June after more than two years at thehelm.
The aluminum segment contributed around 25% of Rio Tinto’s fiscal 2022 consolidated revenue of $55.55 billion.
(By Sameer Manekar; Editing by Rashmi Aich and Sherry Jacob-Phillips)
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