Fortescue and Rio Tinto will undergo a leadership restructure with several top executives stepping down from their roles at both companies.
Rio Tinto
In a significant shake-up, Rio Tinto’s chief executive officer Jakob Stausholm is set to step down from the top job later this year.
Stausholm joined Rio Tinto in 2018 as an executive director and chief financial officer before becoming CEO in January 2021.
“Under Jakob’s leadership, Rio Tinto has restored trust with key stakeholders, aligned our portfolio with the commodities where demand growth is strongest, built a diverse and talented management team, and set a compelling growth trajectory,” Rio Tinto chair Dominic Barton said.
Stausholm will continue to head company operations until a successor is appointed with the selection process already underway.
Fortescue
While Fortescue’s Mark Hutchinson will retire as chief executive officer (CEO) Energy, he will continue to support the company in a global marketing capacity for the next year, serving as senior adviser to the board.
The company’s chief operating officer (COO) Shelley Robertson is also retiring from the role to pursue non-executive director opportunities.
“Since joining Fortescue, they have been instrumental in setting this company up for future success,” Fortescue founder and executive chairman Andrew Forrest said.
Under the leadership refinement, CEO Metals and Operations Dino Otranto will assume an expanded role to include operational responsibility for global electrification and decarbonisation and production of hydrogen products.
“This new leadership cements our one Fortescue commitment to operate as an aligned team driving innovation, delivering value, and accelerating our transition to a successful and profitable green future,” Otranto said.
Alongside Otranto, Agustin Pichot has been appointed as CEO Growth and Energy, which will become effective July 1.
He will be responsible for the company’s green energy development and growth projects.
“Fortescue has a clear and resolute vision to eliminate emissions and decarbonise profitably. In this unstable market where most others are wavering, the world is replete with opportunities. We are seizing on this instability to grow and harness new innovations emerging in green metals, energy and technology,” Pichot said.
