The board of Rio Tinto (RIO) has appointed Simon Trott to succeed Jakob Stausholm as CEO, with effect from August 25. As Iron Ore CEO, Simon has strengthened the business and improved operational performance. The search process for the new CEO was led by the nominations committee, chaired by Dominic Barton, and the appointment decision was made by the full Rio Tinto board. The process built upon succession planning work the board has undertaken over a two-year period and included potential internal and external candidates. Jakob Stausholm will step down as CEO and from the board of directors upon Simon assuming the role.
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