RIO rio tinto limited

News: RIO UPDATE 1-IGO backs incoming CEO Vella despite Rio Tinto sacking him

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    (Updates with further details and background in paragraphs 3-7)

    Nov 27 (Reuters) - IGO Ltd (IGO) will stick with chief executive officer-elect Ivan Vella despite the former Rio Tinto (RIO) aluminium boss not having followed "all appropriate procedure" during his handover, the Australian battery materials producer said on Monday.

    The lithium and nickel producer confirmed Vella will commence as the company's CEO and managing director on Dec. 11.

    IGO chose Vella for its top board seat in June, when both miners agreed to ensure the former Rio aluminium boss has a smooth handover before starting at IGO in December.

    "Upon reviewing the full circumstances of this recent situation, the board continues to have confidence in Ivan’s character, integrity and professionalism," said IGO chair, Michael Nossal.

    Rio Tinto did not immediately respond to a Reuters' request for comment.

    IGO added that no information was compromised as a result of Ivan Vella's actions during his handover process and that the Rio veteran had accepted accountability for this policy breach.

    Rio, the world's largest iron-ore producer,

    dismissed

    Vella with immediate effect in November for a breach of confidential information, an email to all employees sent by CEO Jakob Stausholm and seen by Reuters showed.

 
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