(Reuters) -Rio Tinto on Tuesday named Simon Trott, the current head of its iron ore division, as its new chief executive officer, replacing Jakob Stausholm, who announced his intention to step down in a surprise announcement in May.
Trott will take over the duties of group CEO effective August 25.
Stausholm, who oversaw a big bet on lithium and expansions in iron ore and copper, was named CEO in 2020 as the miner grappled with legal, public and investor angst over the destruction of Australia’s ancient Juukan Gorge rock shelters, which led to the ousting of its former CEO.
Trott, a 20-year veteran at Rio, has brought to market its biggest new iron ore mine in more than a decade in Western Australia and is building out a huge programme of replacement tonnes in the state.
He also served as the miner’s chief commercial officer from 2018 to 2021. Trott has faced pushback from investors because the quality of ore in Rio’s exports has dropped during his tenure and the miner has struggled to reach the top end of its production forecast.
(Reporting by Sameer Manekar and Shivangi Lahiri in Bengaluru, Clara Denina and Melanie Burton in Melbourne; Editing by Sonia Cheema)
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