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Rio Tinto chief executive Jakob Stausholm will step down later this year, and the search for a successor is under way, the FTSE 100 mining group said on Thursday.
Rio did not give a reason for the unexpected exit of Stausholm, who has led the miner since 2021.
Under Stausholm, Rio has made a big push into lithium production, including the $6.7bn acquisition of Arcadium Lithium last year.
He was also tasked with restoring the company’s image after a huge shareholder outcry when the company destroyed Juukan gorge, a sacred aboriginal site, in 2020.
The company’s chair, Dominic Barton, said Stausholm had set a “compelling growth strategy”. The company said a “rigorous selection process” was under way to identify Stausholm’s replacement.
Stausholm will continue in his role while a successor is sought.
Rio, which is listed in London and Sydney, has been under pressure from an activist shareholder to move its primary listing to Australia.
At the recent annual general meeting, shareholders rejected a proposal to study the unification more closely.
