Mining giant Rio Tinto (NYSE:RIO), a prominent player in the metals & mining industry with a market capitalization of USD 102.4 billion, has announced quite a few changes to its board of directors, with several members set to step down later this year. The string of changes was brought forth by the leading aluminium value-chain enterprise’s (among other businesses) chairperson Dominic Barton.
Rio Tinto Chair Dominic Barton has conveyed, “As we reported last year, the size of the Board peaked at 14 Directors as we retained the expertise and experience of our longer-serving Directors during a transitional period as newer Directors familiarise themselves with the Group. That transitional phase is now largely concluded so we will make the following changes to the Board during 2025.”
He has also added, “At the conclusion of the Rio Tinto Limited AGM in May 2025, Sam Laidlaw will step down as a Director of the Company. Sam was appointed to the Board in February 2017 and has served as Chair of our People & Remuneration Committee and as the Senior Independent Director. I would like to express my sincere thanks to Sam, on behalf of the Board, for his outstanding contribution to Rio Tinto. Ben Wyatt will succeed Sam as Chair of the People & Remuneration Committee and Sharon Thorne will become our Senior Independent Director.”
Among other changes, Simon Henry will step down as a Director in the second half of 2025. Simon was appointed to the Board in April 2017 and has served as Chair of the Audit & Risk Committee since May 2019. The board members are grateful to Simon for his invaluable contribution to the Group. Sharon Thorne will succeed Simon as Chair of the Audit & Risk Committee.
Meanwhile, Kaisa Hietala will also step down as a Director at the conclusion of the Rio Tinto Limited AGM in May 2025. The recent growth in our Lithium business has increasingly created potential conflicts of interest with Kaisa’s non-executive directorship with Exxon Mobil.
Out of an abundance of caution, Kaisa has offered to resolve this potential conflict by stepping down from the Rio Tinto Board. Kaisa has been a very welcome and valuable addition to the Board since her appointment in March 2023, and her guidance on energy transition and business transformation in particular have contributed significantly and insightfully to our discussions. While she will be greatly missed, the chairperson says that they have accepted her decision to step down and wish Kaisa well for the future.
Note: This press release has been issued by Rio Tinto and has been published by AL Circle with minor modifications and edits.
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