From 2 July 2016, Rio Tinto’s product group structure will be adjusted to better align the Group’s assets with the business strategy to help drive further efficiencies and optimise performance. The Group’s world-class assets will be firmly at the centre of the business and will be supported by efficient and agile global functions.
Jean-Sébastien Jacques said “In the face of testing times for the industry, Rio Tinto is performing remarkably well. Our ambition is to deliver superior performance day-in and day-out so that we create value for our shareholders and communities now and over the long term.” He also added that, “we are strengthening our structure and delivery by placing our assets at the heart of the business to drive improved performance.”
He noted that the new executive team represents seven nationalities and is as diverse as it is experienced. “Each new team member has more than 20 years’ experience in the resources sector, which complements the deep expertise of the existing executive team. We will work together with all of our employees around the world to build an even stronger company, well positioned for delivering returns and building growth.”
Rio Tinto’s organisational structure will include four product groups – Aluminium, Copper & Diamonds, Energy & Minerals and Iron Ore. These groups will be complemented by a newly shaped Growth & Innovation group, which will focus on future assets and technical support. Under the new structure, Copper & Diamonds will combine Rio Tinto’s two marketing-led businesses into a single product group, “which helps us maximise our technical underground mining expertise. Arnaud Soirat will join the Executive Committee as Copper & Diamonds chief executive. Arnaud, currently Aluminium Primary Metal president and chief executive officer, with more than 24 years of industry experience across three continents, will be based in London. Andrew Harding, currently Iron Ore chief executive, will leave the business with effect from 1 July 2016.