Thursday, international mining group Rio Tinto (RTP,RIO.L,RTPPF.PK) reported a number of senior management appointments and changes to its organisational structure, effective November 1.
The UK-headquartered group, which combines Rio Tinto Plc, an LSE and NYSE listed company and Rio Tinto Limited, which is listed on the Australian Securities Exchange, reported the re-instatement of the Diamonds and Minerals product group alongside the Iron Ore, Copper, Aluminium and Energy product groups.
The company also said it was expanding the executive committee with three new appointments. Doug Ritchie is being appointed as chief executive of Rio Tinto Energy, based in Brisbane; Andrew Harding will become the chief executive of Rio Tinto Copper, based in London; and Harry Kenyon-Slaney, will become chief executive of Rio Tinto Diamonds and Minerals, also to be based in London.
Bret Clayton will take on the new role of group executive, Business Support and Operations, from the Copper and Diamonds product group, where he was chief executive. His responsibilities include a number of business support, evaluation and assurance functions, together with management of the downstream aluminium assets which are scheduled for divestment. He will continue to be based in London.
Tom Albanese, the company's chief executive said, "These changes are designed to strengthen my team and develop the next generation of Rio Tinto leaders. We are in a long term business and management development is an important priority. Two of our five product group heads will now be based in Australia, reflecting the importance of our base there, with two in London and one in Montreal."
Rio Tinto said that Preston Chiaro, who served as chief executive of the Energy and Minerals product group, will become group executive, Technology and Innovation, based in Salt Lake City. Chiaro will replace Grant Thorne, who has been with the group for 34 years and who will be a special adviser to Rio Tinto after retirement.
Guy Elliott remains chief financial officer, based in London. Sam Walsh remains chief executive of Rio Tinto Iron Ore, based in Perth, and his remit will also now include responsibility for the Australian corporate office. Jacynthe Côté remains chief executive of Rio Tinto Alcan, based in Montreal. Hugo Bague remains group executive, People and Organisation, and Debra Valentine remains group executive, Legal and External Affairs, both based in London.
RTP is currently trading on the New York Stock Exchange at $194.37, up 0.50%.
RIO.L closed Thursday's last trade on the London Stock Exchange at 2,946.00 pence, down 1.73%.
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