Daily News

05.03.2013

US - Rio Tinto appoints new chief financial officer and streamlines executive committee

Rio Tinto has appointed Chris Lynch as chief financial officer to succeed Guy Elliott, with effect from 18 April 2013. Chris Lynch joined the Rio Tinto boards as a non-executive director in September 2011. He remains on the boards and will become an executive director and member of the Executive Committee as chief financial officer-elect on 1 March 2013. He will be based in London.

In July 2012, Guy Elliott announced his intention to retire from Rio Tinto after more than 30 years with the Group. As stated at that time, he will remain on the boards until the end of 2013. He steps down as chief financial officer at the conclusion of the Rio Tinto plc AGM in London on 18 April 2013.

Rio Tinto chief executive Sam Walsh said "Chris Lynch is an extremely high-calibre addition to our executive team with a strong pedigree of board, mining and financial experience, including at BHP Billiton where he was chief financial officer and ran the Carbon Steel Materials division, and 20 years at Alcoa. We are fortunate to have appointed someone so well qualified to take over from Guy, and I am grateful to Guy for remaining on the boards until the end of the year."

Chris Lynch said "This is a wonderful opportunity for me to join Sam's leadership team and work with him in refocusing the business on pursuing greater shareholder value. I am really looking forward to getting stuck into the challenge and ensuring we deliver on our promises to improve this great business."

Sam Walsh is also streamlining his Executive Committee by reducing the number of positions reporting to him from 11 to nine. The vacant group executive Strategy position will not be filled, and strategy will continue to be part of the chief financial officer portfolio. 

Bret Clayton's role of group executive, Business Support & Operations will be restructured and its responsibilities will transfer to other Executive Committee members from 1 March. Bret Clayton has agreed to stay with the Group to assist with a range of activities including continuing to oversee Pacific Aluminium as it is prepared for divestment.

 

Sourced from Rio Tinto