[miningmx.com] – RIO Tinto said it had extended the tenure of its CEO, Sam Walsh, which the group said provided a strong endorsement of his leadership, its strategy and focus on “driving shareholder value”.
The new employment agreement, which also includes Rio Tinto CFO, Chris Lynch, replaces their fixed term retirement dates with long-term, open-ended commitments to the company, Rio Tinto said.
The extension of the employment contracts comes only three months after Glencore approached Rio Tinto with a merger offer which one analyst said was opportunistically related to the end of Walsh’s contract due end 2015.
