Rio Tinto chair says it was a 'natural moment' to appoint a successor
Rio Tinto CEO Jakob Stausholm is stepping down from his role later this year, the mining giant announced on Thursday.
Stausholm, who first joined Rio Tinto in 2018, became chief executive in 2021 after previously serving as the company's executive director and chief financial officer.
He is set to step down at the end of a succession process later this year, but he will remain in his role as CEO and member of the Board of Directors until his successor is appointed.
"A rigorous selection process is already underway, led by the Nominations Committee," Rio Tinto said in a media release.
No reason was provided for Stausholm's departure, but Rio Tinto Chair Dominic Barton said it was a "natural moment" to appoint a successor.
"This is a natural moment to appoint Jakob's successor, as we look ahead to our next phase in which we will double down to deliver greater operational performance to realise the full potential of our assets," Barton said.
"I would like to thank Jakob for his significant contribution to Rio Tinto at a critical time in its evolution."
Stausholm's departure comes in the wake of various workplace issues faced by the mining giant.
An external workplace culture review of Rio Tinto in November revealed that seven per cent of employees experienced sexual harassment in the past 12 months. Others also experienced racism (7%) and bullying (39%).
At the time, Stausholm described the incidents as "unacceptable and harmful," and apologised to the victims.
"I am greatly troubled by this and sincerely apologise on behalf of our leadership team to anyone affected," he said in a statement.
The report, however, noted that there were signs of progress in the organisation after two-thirds of employees were "at least confident" that Rio Tinto will make a meaningful difference in bullying, sexual harassment, and racism in the workplace.
"The review also shows that while progress is being made, achieving the sustained change we want to see in our culture will require ongoing focus and effort," Stausholm said.
