Anglo CFO, Stephen Pearce, a front runner to replace Jacques as Rio Tinto CEO

Stephen Pearce, Anglo American CFO

ANGLO American CFO, Stephen Pearce, is among one of the external candidates thought to be in the running to take over as CEO of Rio Tinto, said Reuters.

Other front runners include former BP CFO, Brian Gilvary, OZ Minerals CEO, Andrew Cole, and former Fortescue Metals Group CEO, Nev Power, the newswire said.

Bankers and investors interviewed by Reuters said the top priority for a new Rio CEO was someone with strong stakeholder management skills.

In May, the world’s biggest iron ore miner destroyed ancient Aboriginal caves whilst blasting new ore at its Pilbara property in Western Australia. Rio Tinto CEO, Jean-Sébastien Jacques, was asked by the group’s board to step down following investor and stakeholder pressure.

Investors said it was crucial Rio repaired its relationships with the groups as well as navigate other government issues. “More than anything – it doesn’t matter whether they’re within or outside the sector – I think they need someone who’s a very good manager,” said George Cheveley, portfolio manager at Ninety One in London.

The board is under pressure to make a strong pick before Jacques steps down in March, said Reuters.

Some leading mining CEOs such as Newmont Corporation’s Tom Palmer and Anglo American’s Mark Cutifani have publicly ruled themselves out, while Newcrest Mining’s Sandeep Biswas has said he is very happy where he is.