Rio Names New CEO as Scrutiny Over Australian Blasts Lingers
- CFO Jakob Stausholm appointed CEO, joined company in 2018
- Jean-Sebastien Jacques announced departure earlier this year
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Rio Tinto Group named finance head Jakob Stausholm as chief executive officer, tapping a relative newcomer to manage the fallout over its destruction of ancient Aboriginal sites in Australia.
Danish-born Stausholm, 52, takes the helm at a time of crisis for the world’s second-largest miner. The blasts that destroyed a 46,000 year-old heritage site have damaged relations in Australia -- where Rio operates hugely profitable iron-ore mines --sparked criticism from investors and shined a spotlight on how the group’s internal culture may have contributed to the failures. They also cost outgoing chief Jean-Sebastien Jacques his job.