Rio Tinto has announced the appointment of former AP Moller-Maersk and Shell finance executive Jakob Stausholm to the position of Chief Financial Officer (CFO), effective 3 September, 2018.
Mr Stausholm will replace outgoing financial boss Chris Lynch, who served as Rio Tinto’s CFO since 2013.
Commenting on the announcement, Rio Tinto chief executive J-S Jacques stated:
“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.”
“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.”
Mr Jacques also thanked Mr Lynch for his outstanding contribution to the performance of Rio Tinto over the last five years.
“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,” he said.
“Rio Tinto 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.”
Mr Stausholm said he was delighted to be joining the Rio Tinto board.
“I am truly excited to be joining Rio Tinto and look forward to working with J-S and the executive team to ensure Rio Tinto continues to outperform its peers and maintain the financial discipline instilled under J-S and Chris’s leadership,” he concluded.