Rio Tinto Restructures Operating Model
Rio Tinto announced a new operating model and executive team designed to simplify the organization, strengthen accountability and focus on long-term shareholder value.
Effective immediately, Rio Tinto will operate three core product groups: Iron Ore, Aluminium & Lithium, and Copper. Matthew Holcz has been appointed Chief Executive of Iron Ore, overseeing the company’s global portfolio including Western Australia, the Iron Ore Company of Canada and the Simandou project in Guinea. Aluminium & Lithium will be led by Jérôme Pécresse, with businesses organized as Atlantic Operations Aluminium, Pacific Operations Aluminium and Lithium. Copper continues under the leadership of Katie Jackson, focused on Oyu Tolgoi, Kennecott, Resolution in the United States and Nuevo Cobre in Chile.
Outside of the three core groups, Rio Tinto’s Borates and Iron & Titanium businesses will transfer to the Chief Commercial Officer’s portfolio for strategic review. An update on the outcome will be provided in due course. During the review, these businesses will continue to operate safely and profitably.
As part of the changes, Sinead Kaufman will leave Rio Tinto at the end of October after nearly 30 years with the company. The Chief Executive Australia role will also conclude, with responsibilities transitioning to a new head of Australia role.
Chief Executive Simon Trott said the streamlined structure will “deliver new standards of operational excellence and value creation,” ensuring sharper focus on opportunities with the greatest potential returns.
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