Rio Tinto (ASX, LON: RIO) has picked iron ore boss Simon Trott as its new chief executive officer, selecting a 20-year company veteran to steer the mining giant through rising costs and long-term growth challenges.
Trott, 50, succeeds Jakob Stausholm, who unexpectedly announced in May he would step down after four and a half years at the helm of the world’s second largest mining company.
The Australian national, the first local boss since Sam Walsh (2013-2016), will assume the role on August 25 and relocate to London. He has led Rio’s iron ore division, the miner’s most profitable business, since 2021
“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,” chairman Dominic Barton said in a statement.
Trott has worked across Rio’s global operations. Before leading iron ore, he…
