Deals

Rio Tinto Will Appoint Simon Thompson as New Chairman

Former Anglo base metals executive to lead board from March
Internal pick follows halted proposal to install Mick Davis

Bloomberg’s Andrew Hobbs reports on Rio Tinto Group’s appointment of industry veteran Simon Thompson as chairman. (Source: Bloomberg)

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By David Stringer and Thomas Biesheuvel

December 3, 2017 at 9:36 PM UTC

Updated on

December 4, 2017 at 9:46 AM UTC

This article is for subscribers only.

Rio Tinto Group named industry veteran Simon Thompson as chairman after shareholders rejected a plan to install a renowned dealmaker -- reinforcing an industry-wide investor drive for higher returns and caution over project spending.

Thompson, 58, a Rio director since 2014 and previously an executive director at Anglo American Plc, will succeed Jan du Plessis from March 5, London-based Rio said Monday in a statement. Du Plessis, who’s held the post since 2009, is stepping down after taking up the same position at BT Group Plc.