Change of power in Rio Tinto

Sam Walsh, the current director of Rio Tinto for the past seven years, is retiring. He will be replaced by Jean-Sbastien Jacques, who is currently in charge of the copper and coal segment.

Sam Walsh will retire on July 1, 2016. Jean du Plessis, chairman of the board, said that Walsh led the corporation during a very difficult period, during which he was able to cut costs by $ 6 billion, thus leaving a stronger company with much better prospects.

In order to ensure a smooth transition to the new management of the company, they decided to transfer him to a successor immediately, having appointed him Deputy General Director. Jean-Sébastien Jacques has worked for the group team for three years in the copper and coal segment. Previously, he worked for many years in management positions in companies involved in the production of bauxite, aluminum and steel, and from 2007 to 2011 he was a director of the Tata Steel Group.