RIO Tinto Group has appointed its iron ore boss Simon Trott as CEO, replacing Jakob Stausholm from August 25, said Bloomberg News on Tuesday.
The 50-year-old takes the helm as the mining giant prepares for significant expansion, including a $13bn iron ore investment, new lithium projects, and copper growth plans.
Rio sought a leader with deeper mining experience to drive portfolio growth, said Bloomberg News. Whilst external candidates were considered, internal contenders including aluminium CEO Jérôme Pécresse and chief commercial officer Bold Baatar were widely viewed as frontrunners, the newswire added.
Trott was deemed suitable having led Rio’s largest and most profitable division for four years. He previously served as chief commercial officer and spent nearly two decades in operational and business development roles at the company.
“Simon came into our iron ore business at a time of significant challenges and has been instrumental in rebuilding culture, strengthening external relationships and setting us on a pathway for growth,” said chairman Dominic Barton.
Stausholm joined Rio in 2018 before becoming CEO after the company destroyed a 46,000-year-old sacred Aboriginal site in Western Australia. Despite initial criticism, he successfully rebuilt the company’s reputation and reset relationships with traditional owners whilst unlocking new growth areas.
Trott faces considerable challenges, including bringing the massive Simandou project in Guinea into production and maintaining Australian mine output. Rio completed its acquisition of Arcadum Lithium earlier this year, marking a return to deals after avoiding acquisitions for years following previous costly mistakes.
Last year, Rio held talks about a potential merger with Glencore, which would have created a combined company larger than rival BHP Group.
