Rio Tinto, a leading global mining group, has announced the appointment of Simon Trott as its new Chief Executive Officer. Trott is set to succeed Jakob Stausholm, with the position being effective from August 25, 2025.
At present, Trott is working as the Ore Chief Executive, with an exceptional delivery for more than 25 years in dynamic roles ranging from commodities and geographics, focused on a strong value-based performance culture to bolstering partnerships with the stakeholders. He has already made a significant impact in strengthening our core business and deepening our relationships with stakeholders in Australia.
In the role of Ore Chief Executive, Simon successfully upheld the business with improved operational performance, with a focus on the financial and safety disciplines. Additionally, he also reinstated the relationship with the firm's key stakeholders, securing the future of the business concerning the upcoming mine developments.
Before this, the Chief Executive had been the first Chief Commercial Officer, aiding in establishing the Group's Commercial operation by tapping strategic, deeper and efficient consumer relationships. Prior to this, he also held the role of Managing Director in the company's different geographies and commodities.
Reflecting on his tenure as Chief Executive, Jakob Stausholm stated, "It has been an absolute privilege to lead Rio Tinto for nearly five years, during an important chapter in its history. Working together, our brilliant people across the Group have built genuine momentum, setting out a pathway to a decade of profitable growth. As the Chief Executive of our largest business during this time Simon has been an integral part of the journey; I am certain that under his leadership the Group will continue to thrive and deliver value for its stakeholders."
The Nominations Committee, chaired by Dominic Barton, led the search for the new Chief Executive, with the final appointment made by the full Rio Tinto Board. This process was part of the Board's ongoing two-year succession planning efforts and considered both internal and external candidates.
Rio Tinto Chair Dominic Barton stated, "Simon is an outstanding leader with a deep understanding of mining and a track record of delivering operational excellence and creating value across our business. Simon and the Board are aligned that Rio Tinto's next phase is about unlocking significant value for shareholders from our portfolio, driven by operational performance, and cost and financial discipline."
He further adds, "Simon came into our Iron Ore business at a time of significant challenges and has been instrumental in rebuilding culture, strengthening external relationships and setting us on a pathway for growth. Under his leadership, Iron Ore has become a centre of innovation for the Group, driving operational excellence, technology and operating model optimisation – levers Simon can now bring to Rio Tinto at scale."
Jakob Stausholm will step down as Chief Executive and leave the Board of Directors once Simon assumes the position. In the interim, Matt Holcz, currently Managing Director of Pilbara Mines at Rio Tinto, will support the Chief Executive Iron Ore role until a permanent successor is appointed.
Rio Tinto Chief Executive Designate Simon Trott said, "It is a privilege to have the opportunity to lead Rio Tinto, and I am excited about our future. The progress we have made over recent years gives us a foundation to build on with discipline and focus to deliver improved performance. With our outstanding assets and people around the world, we are well positioned to grow value for shareholders and the communities who host us. I want to personally thank Jakob for his leadership and guidance; I have greatly enjoyed working with him. As we move forward at pace, I will be listening closely to our shareholders, customers, employees, communities and other stakeholders to shape our next chapter together."
Simon will be employed under a standard Rio Tinto executive director contract, which includes a 12-month notice period and his remuneration will be in line with the company's Remuneration Policy. His position will come into effect from August 25 2025.
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