Rio Tinto chief executive Jakob Stausholm to step down in 2025: Mining giant announces succession plan process

Rio Tinto has announced chief executive Jakob Stausholm will step down in 2025, announcing it’s succession plan in a notice to the ASX.

“Rio Tinto today announced that chief executive Jakob Stausholm will step down from the Group later this year, at the conclusion of a succession process,” the statement said.

“Jakob joined Rio Tinto in 2018 as executive director and chief financial officer, and became Chief Executive in January 2021.

“As Chief Executive, Jakob has reset Rio Tinto’s strategy to align the group to the opportunities of the energy transition and shaped a pathway to a decade of profitable growth.

“Jakob will continue to lead Rio Tinto as chief executive and a member of the Board of Directors while a successor is appointed. A rigorous selection process is already underway, led by the nominations committee.”

Rio Tinto chair Dominic Barton said: “Under Jakob’s leadership, Rio Tinto has restored trust with key stakeholders, aligned our portfolio with the commodities where demand growth is strongest, built a diverse and talented management team, and set a compelling growth trajectory.”

Mr Barton said it was a “natural moment” to appoint Mr Stausholm’s successor.

“This is a natural moment to appoint Jakob’s successor, as we look ahead to our next phase in which we will double down to deliver greater operational performance to realise the full potential of our assets.”

Mr Stausholm said: “It has been an absolute privilege to lead Rio Tinto, one of the great mining and materials companies in the world.

“We have built on Rio Tinto’s historic strengths to deliver profitable, stable growth and significant shareholder value.

“I know the company will continue to thrive long into the future.”