Rio Tinto and Fortescue have announced significant leadership and structural changes, with Jakob Stausholm set to step down as Rio chief executive officer in late 2025.
Rio Tinto
Stausholm joined Rio Tinto in 2018 as executive director and chief financial officer, before becoming chief executive 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 chair Dominic Barton said.
“Our focus on these things is undiminished and our strategic priorities are unchanged. This is a natural moment to appoint Jakob’s successor, as we look ahead to our next phase in which we will double down to deliver greater operational performance to realise the full potential of our assets.”
Stausholm has played a major role in shaping Rio’s strategy for the energy transition and laying the groundwork for a decade of profitable growth.
He will continue in his role and remain on the board while the company looks to appoint his successor.
“It has been an absolute privilege to lead Rio Tinto, one of the great mining and materials companies in the world,” Rio chief executive Jakob Stausholm said.
“We have built on Rio Tinto’s historic strengths to deliver profitable, stable growth and significant shareholder value. I know the company will continue to thrive long into the future.”
The nominations committee has commenced a rigorous selection process to identify the next Rio chief executive.
Fortescue
Dino Otranto has been promoted to Fortescue chief executive officer (CEO) of metals and operations. He had previously been head of the company’s metals business solely.
In this expanded role, he will oversee global electrification, decarbonisation, and hydrogen production.
“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.
Further changes include the appointment of Agustin Pichot as CEO growth and energy, effective July 1.
“Fortescue has a clear and resolute vision to eliminate emissions and decarbonise profitably,” Pichot said. “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 joined Fortescue in 2018 and has served as president of Latin America, advancing the company’s mining, energy, and infrastructure interests.
Otranto and Pichot’s appointments coincide with the retirement of CEO energy Mark Hutchinson and chief operating officer Shelley Robertson.
“We thank Mark and Shelley for their valuable efforts since joining Fortescue,” Fortescue founder and executive chairman Andrew Forrest said. “They have been instrumental in setting this company up for future success.”
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