RIO rio tinto limited

News: RIO UPDATE 1-Rio Tinto names CFO Jakob Stausholm as next CEO after cave blast fallout

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    Dec 17 (Reuters) - Rio Tinto Ltd (RIO) on Thursday named Chief Financial Officer Jakob Stausholm as its next chief executive, replacing Jean-Sebastien Jacques who stood down following the destruction of Aboriginal rock shelters by the world's top iron ore miner.

    The destruction of the 46,000-year-old Juukan Gorge rock shelters, while legal, sparked public and investor uproar that ultimately led to the resignation of not just Jacques, but also two deputies.

    Stausholm will now have to repair strained relationships with investors and the Aboriginal community while reforming the company to improve oversight and repair public trust.

    A parliamentary inquiry has called on Rio Tinto to pay restitution to Indigenous Australians affected by the destruction and also fully reconstruct the rock shelters in Western Australia's Pilbara region.

    In its statement, Rio said Stausholm will take the position effective Jan. 1, 2021, and Peter Cunningham will be appointed as chief financial officer on an interim basis.

 
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