Rio Tinto Chairman Simon Thompson to step down in 2022

© Reuters. FILE PHOTO: A sign adorns the building where mining company Rio Tinto has their office in Perth, Western Australia

(Reuters) – Rio Tinto (LON:) Ltd said on Wednesday Simon Thompson will step down as chairman next year after deciding not to seek re-election as a non-executive director at the miner’s 2022 annual general meeting.

Analysts said last month Thompson would likely face increasing pressure to step down over the board’s handling of the destruction of rock shelters, after an indigenous group accused him of breaking a personal promise.

The destruction of the 46,000-year-old Juukan Gorge rock shelters last year sparked a public and investor uproar that led to the resignation of then CEO Jean-Sebastien Jacques and two deputies.

“I am ultimately accountable for the failings that led to this tragic event,” Thompson said on Wednesday.

Non-executive director Michael L’Estrange will also retire from the board after this year’s AGM, Rio said.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

READ  Hong Kong stocks rebound despite latest violence – business live



Please enter your comment!
Please enter your name here