AVZ Minerals

Rio Tinto has appointed Jakob Stausholm to succeed Chris Lynch as chief financial officer. Stausholm will join Rio Tinto as an executive director on 3 September 2018 and take over as chief financial officer on the same day.

Chris Lynch joined the Rio Tinto board in September 2011 and was appointed chief financial officer in April 2013.

He will stand down from the company's board on 3 September 2018 and as previously announced, will retire from the company on 30 September 2018, following a smooth transition to Stausholm .

Stausholm has over 20 years’ experience working in senior finance roles in Europe, Latin America and Asia.

He was Group CFO and an executive director of A.P. Moeller – Maersk A/S and chief financial, strategy & transformation officer for the transport & logistics division from December 2016 until March 2018, having joined the Maersk Group in 2012.

From 2008 to 2011 he was Group CFO of the global facility services provider ISS A/S and he was a non-executive director of Statoil ASA from 2009 to 2016 and of Woodside Petroleum from 2006 to 2008.

Before that, he spent over 19 years with Royal Dutch Shell in numerous finance positions globally and as chief internal auditor for the Group.

“I am delighted Jakob is joining Rio Tinto and I look forward to working closely with him as we continue to deliver superior returns to our shareholders," comments Rio Tinto chief executive J-S Jacques.

"The experience he has gained in various senior financial and strategy roles globally will be invaluable, as will his deep knowledge of both the resources and logistics industries.

“I would also like to acknowledge Chris’s outstanding contribution to Rio Tinto.

"He leaves Rio Tinto a stronger company than when he started in 2013.

"The company has the strongest balance sheet in the sector, and Chris has helped embed a disciplined focus on costs and capital allocation.

"On a personal level, I will greatly miss his wise counsel, good humour and support and I wish Chris and his family the best of luck for the future," adds Jacques.

“I am truly excited to be joining Rio Tinto and look forward to working with J-S and the executive team to ensure that the company continues to outperform its peers and maintain the financial discipline instilled under J-S and Chris’s leadership," comments Stausholm.

“I look forward to welcoming Jakob to the board," says Rio Tinto chairman Simon Thompson.

"He brings a wealth of experience, both as an executive and non-executive director, that will enrich the Rio Tinto board discussions and ensure continued leadership on disciplined capital allocation and the pursuit of superior shareholder value.

"I would also like to thank Chris for his great contribution to the board and to Rio Tinto during his time as chief financial officer," concludes Thompson.