Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

UPDATE 1-Rio Tinto says Simon Thompson to succeed Jan du Plessis as chairman

Published 04/12/2017, 09:15 am
Updated 04/12/2017, 09:20 am
© Reuters.  UPDATE 1-Rio Tinto says Simon Thompson to succeed Jan du Plessis as chairman
III
-
RIO
-
TLW
-
RIO
-

(Adds quotes, details about Thompson, background)

Dec 4 (Reuters) - Rio Tinto (LON:RIO) Ltd RIO.AX said on Monday it appointed Simon Thompson as its next chairman, succeeding Jan du Plessis, who will step down after serving almost nine years as chair.

Thompson, who is the chairman of the company's remuneration committee, will become Rio Tinto's chairman on March 5, 2018, the Anglo-Australian mining company said in a statement.

"The board is delighted to have appointed Simon to chair Rio Tinto. He brings to the role a deep understanding of the mining industry, as well as a strong track record as a non-executive," said senior independent director Ann Godbehere.

Thompson has been chairman of 3i Group Plc III.L since 2015 and was chairman of Tullow Oil Plc TLW.L from 2012 to 2017. Earlier in his career, he held investment banking positions at S.G. Warburg and N M Rothschild.

"I am handing over the baton at a time when the business is in great shape and Rio Tinto has the strongest balance sheet in the sector"," added du Plessis, who announced his intention to retire as chairman earlier this year. assuming the role of the chair, Thompson will step down as chairman of the remuneration committee and will stop being a member of the audit committee, Rio added.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.