Rio Tinto (NYSE:RIO) appointed Simon Trott as its next Chief Executive Officer, effective August 25, 2025. Trott, currently the head of the multinational miner's iron ore division, will be the fourth leader within the last ten years.
"Simon is an outstanding leader with a deep understanding of mining," said Rio Tinto chair Dominic Barton. "He came into our Iron Ore business at a time of significant challenges and has been instrumental in rebuilding culture and strengthening relationships."
Barton confirmed that the board considered both internal and external candidates, including Chief Commercial Officer Bold Baatar and Aluminium Chief Jérôme Pécresse.
According to The Financial Times, Berenberg's analyst Richard Hatch noted Trott's appointment "telegraphs the status quo for Rio," suggesting he may be less aggressive in strategic pivots than other contenders.
Trott brings 25 years of experience across Rio's operations and geographies. As head of the company's iron ore division—its most profitable business—he oversaw operational and safety improvements and reset key relationships in the Pilbara.
Previously, he served as the first Chief Commercial Officer, where he built the group's commercial platform and expanded global customer relationships.
He will replace Jakob Stausholm, who has led the firm since 2021 and guided it through a period of cultural and strategic reset following the destruction of sacred Aboriginal sites in 2020.
Under Stausholm, Rio Tinto strengthened stakeholder relations, reoriented its portfolio around growth commodities, and led major transactions—including the $6.7 billion all-cash acquisition of Arcadium Lithium.
"It is a privilege to have the opportunity to lead Rio Tinto," Trott said. "The progress we've made provides a foundation to deliver improved performance. I look forward to working with our shareholders, communities, and employees to shape the company's next chapter."
Trott will receive a base salary of $1.8 million (£1.34 million), along with participation in incentive plans, standard benefits, and pension contributions of 14% of his base salary. Still, responsibilities in his new role will be significant, as the firm has to streamline the newly acquired lithium operations in South America, resolve a stalled Jadar project in Serbia, and most notably, advance the long-delayed generational Resolution copper project in Arizona—a potential cornerstone for Rio's future growth in U.S. critical minerals.
RIO Price Action: Rio Tinto shares were down 0.53% at $59.50 premarket at the time of publication Tuesday, according to Benzinga Pro.
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