New CFO for Rio Tinto

Jakob Stausholm has been appointed as new CFO for Rio Tinto. He will join Rio as an executive director on 3 September 2018 and take over as chief financial officer on the same day.

Jakob

Stausholm will succeed Chris Lynch who is expected to retire at the end of September 2018.

Stausholm has more than 20 years’ experience working in senior finance roles in Europe, Latin America and Asia. He was Group CFO and an executive director of A.P. Moeller – Maersk and chief financial, strategy and transformation officer for the transport and logistics division from December 2016 until March 2018, having joined Maersk in 2012.

From 2008 to 2011 he was group CFO of the global facility services provider ISS A/S and he was a non-executive director of Statoil ASA from 2009 to 2016 and of Woodside Petroleum from 2006 to 2008. Before that, he spent over 19 years with Royal Dutch Shell in numerous finance positions globally and as chief internal auditor for the group.

Rio Tinto chief executive J-S Jacques says, “I am delighted Jakob is joining Rio Tinto and I look forward to working closely with him as we continue to deliver superior returns to our shareholders. The experience he has gained in various senior financial and strategy roles globally will be invaluable, as will his deep knowledge of both the resources and logistics industries.”

Stausholm says, “I am truly excited to be joining Rio Tinto and look forward to working with J-S and the executive team to ensure Rio Tinto continues to outperform its peers and maintain the financial discipline instilled under J-S and Chris’s leadership.”

Rio Tinto chairman Simon Thompson says, “I look forward to welcoming Jakob to the Rio Tinto board. He brings a wealth of experience, both as an executive and non-executive director, that will enrich the Rio Tinto board discussions and ensure continued leadership on disciplined capital allocation and the pursuit of superior shareholder value.

“I would also like to thank Chris for his great contribution to the board and to Rio Tinto during his time as chief financial officer.”

Chris Lynch joined the Rio Tinto board in September 2011 and was appointed chief financial officer in April 2013.

“I would also like to acknowledge Chris’s outstanding contribution to Rio Tinto. He leaves Rio Tinto a stronger company than when he started in 2013. Rio Tinto has the strongest balance sheet in the sector, and Chris has helped to embed a disciplined focus on costs and capital allocation. On a personal level, I will greatly miss his wise counsel, good humour and support, and I wish Chris and his family the best of luck for the future,” Jacques concludes.


 

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