“In Rio Tinto’s case the company preempted this need for reinvention and it’s led the industry, and to … Rio Tinto Group’s calamitous $3.7 billion coal deal in Mozambique keeps coming back to haunt the world’s second-biggest miner. The company destroyed the caves against the wishes of the of the Puutu Kunti Kurrama and Pinikura (PKKP) people. Last month, Rio Tinto said it had cut Mr Jacques' bonus by £2.7m. Rio gets a grip on Oyu Tolgoi RIO Tinto has become issue-rich in recent times. Melanie Burton. Rio Tinto parted ways with its chief executive and two deputies ... Rio Tinto bows to pressure over cave blast as CEO, executives exit. Explosions in May to open up a mining area at an iron ore operation impacted two rock-shelters—shallow, cave-like structures—in the Juukan Gorge region of Western Australia’s Pilbara region. Jean-Sébastien Jacques and two senior executives to leave miner after investor pressure. It was “inexcusable”, said the report, and called on Rio Tinto to set about rebuilding the site and compensating the traditional owners of the caves, the Puutu Kunti Kurrama and Pinikura peoples of Western Australia. Rio Tinto's chief executive Jean-Sebastien Jacques will lose $4.9 million in bonuses after the destruction of the Juukan Gorge rock shelters. CEO SALARY SURVEY | Rank Senior Executive Title Company Name Total Salary Base Salary Bonuses Shares / Options Superan-nuation Special Payouts Company ... 3 Sam Walsh Executive Director Rio Tinto $7,587,000 $1,475,000 $2,832,000 $3,280,000 $726,200,000 $60,323,000,000 Rio Tinto names CFO Jakob Stausholm as next CEO after cave blast fallout Back to video 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. Rio Tinto CEO quits after backlash over Aboriginal site destruction. Rio Tinto PLC - London-based miner - Copper & Diamonds Chief Executive Arnaud Soirat sells 13,500 shares at AUD115.21, worth AUD1.6 million, about GBP878,300, on Tuesday. Former Rio Tinto CEO, Sam Walsh, discussed the motivation and origin of the concept as the guest keynote speaker at the Gartner Data and Analytics Summit in Sydney yesterday. Save. As CEO, Tom Albanese oversaw the acquisition of Alcan for $38 billion in 2007. But for governance observers it’s worth bearing in mind what the parliamentary report dug up about Rio Tinto’s leadership. Friday, 11 September, 2020. But at least it can be said that the reworking of the mine plan for the underground push at Oyu Tolgoi in Mongolia’s south Gobi desert has been accepted as an event not worth fretting over, writes Barry FitzGerald . Rio Tinto releases fourth quarter production results. Rio said Stausholm, who was formerly at Royal Dutch Shell and Maersk, will take over as CEO on Jan. 1, 2021, and Peter Cunningham will be appointed as chief financial officer on an interim basis. MELBOURNE, Australia--(BUSINESS WIRE)-- Rio Tinto Chief Executive Jakob Stausholm said “We have delivered a strong safety and operational performance in the face of the significant global challenges of COVID-19. British firms called for another 7.6 billion pounds ($10.3 billion) of emergency government help, saying they cannot wait until finance minister Rishi Sunak’s March budget to learn if they will get more pandemic support. Rio Tinto CEO Jean-Sébastien Jacques and two other executives have resigned after the company destroyed a 46,000-year-old Indigenous site in Australia while expanding an iron ore mine. ... A look at Akshay Kumar's net worth & assets. Rio Tinto CEO's fate in balance as board to meet after blasting of Aboriginal site Investor pressure increases over mining company’s destruction of two 46,000-year-old caves at Juukan Gorge Rio Tinto last month began a search for a successor to Mr. Jacques, who will remain in his role no later than March 31. Rio Tinto engaged law firm Ashurst to deal with ... but was previously with Rio Tinto. Miner Rio Tinto rose 1.4 after reporting a 2.4% rise in fourth-quarter iron ore shipments, helped by increased demand from China. The estimated Net Worth of Thomas Ronald Palmer is at least $28 Million dollars as of 4 January 2021. Rio Tinto's aluminum operations have lost money for years and the charge is the second in 12 months. Rio Tinto CEO Stepping Down Over Destruction Of Ancient Aboriginal Site In May, mining giant Rio Tinto blasted through two ancient rock shelters in Western Australia in … Rio Tinto CEO, execs quit over blasting of Aboriginal sites. In addition, he makes $7,332,200 as President, Chief Executive Officer, and Director at Newmont Corp. Some analysts expect an external candidate will be chosen, as many potential leaders left the miner in the past four years. Mining company Rio Tinto has announced the sudden resignation of its chief executive Tom Albanese. Mr. Palmer owns over 5,150 units of Newmont Corp stock worth over $15,003,957 and over the last 4 years he sold NEM stock worth over $5,663,729. Rio Tinto, the world's second-largest listed mining company by market value, said a search for a new CEO was under way and Mr. Jacques would leave sooner than March 31 if … “Rio Tinto’s purpose is to produce the materials essential to human progress and I remain deeply committed to this after the difficult times we have faced during 2020,” he said in a statement. 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