Lates News

On Tuesday, Rio Tinto (RIO.N) appointed the current head of its iron ore division, Simon Trott, as the new CEO to replace Jacob Stausholm, who unexpectedly announced his resignation in May. Trott, who has been with Rio Tinto for 20 years, oversaw the launch of the largest new iron ore mine in Western Australia in over a decade and is currently developing a massive replacement plan for the state. He also served as the company's chief commercial officer from 2018 to 2021. Trott has faced resistance from investors during his tenure, as the quality of iron ore exported by Rio Tinto has declined and the mining company has struggled to meet its production forecast targets.