Rio Tinto's long-standing Chief Financial Officer (CFO) Guy Elliott is to retire at the end of next year, the group announced on Thursday, along with a few other senior management changes.
Elliot has worked for the mining group for 32 years, which includes ten years on the board.
"I would like to thank him on behalf of the board for his invaluable contribution, particularly in recent years as he helped steer the group through the global financial crisis and back to a position of financial strength," said Chairman Jan du Plessis.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Elliot will continue his role until a successor can be appointed. Chief Executive Officer Tom Albanese said: "I would like to thank him personally for his wise counsel and support and for his commitment to stay with us for another 18 months to ensure a smooth transition."
Meanwhile, Doug Ritchie, the CEO of Rio's Energy division, will take on the London-based new role of group executive Strategy from the start of 2013.
Diamonds and Minerals CEO Harry Kenyon-Slaney will take the Brisbane-based role of Energy CEO from September 2012 onwards.
Lastly, Iron Ore International Operations President Alan Davies will be the new Diamonds and Minerals CEO from September 2012 based in London.
BC
-
How to find the best luxury hotel dealsKnowing how to find the best luxury hotel deals can help holidaymakers enjoy high-end experiences without the sky-high costs. We reveal how to bag the best value for less.
-
Frozen thresholds could push ‘tax freedom day’ to latest date this centuryTax freedom day is the point in the year you stop earning for the taxman and start earning for yourself. A rising tax burden could push it to 12 June this year – the latest date since 1982.
