Rio Tinto PLC Rio Tinto streamlines organisational structure (0322G)
27 February 2015 - 6:00PM
UK Regulatory
TIDMRIO
RNS Number : 0322G
Rio Tinto PLC
26 February 2015
Rio Tinto streamlines organisational structure to drive greater
value
27 February 2015
Rio Tinto is streamlining its product groups and corporate
functions as part of the continued focus on efficiency and
costs.
Under the new arrangements, Rio Tinto's world-class portfolio of
assets will be condensed into four product groups: Aluminium,
Copper and Coal, Diamonds and Minerals, and Iron Ore.
The new Copper and Coal product group will bring Rio Tinto's
coal operations alongside the existing Copper portfolio. Copper
chief executive Jean-Sébastien Jacques will lead the combined
product group.
Uranium will be added to the Diamonds and Minerals product
group, under the leadership of product group chief executive Alan
Davies.
As a consequence of the restructuring, Energy chief executive
Harry Kenyon-Slaney will leave the business.
The Aluminium and Iron Ore product groups remain unchanged.
A number of key corporate functions will also be reshaped to
further reduce costs and improve effectiveness as part of an
ongoing optimisation programme.
Rio Tinto chief executive Sam Walsh said "These changes are part
of our continuing business transformation to reduce costs, simplify
and strengthen our company and deliver sustainable value for
shareholders.
"Our coal and uranium assets remain a part of our world-class
portfolio. We will work hard to ensure there is a smooth transition
for our colleagues in the Energy product group and continue to
maximise efficiencies in our coal and uranium operations.
"I would like to thank Harry for the important contribution he
has made during almost 25 years with the Group, including as a
colleague on the Executive Committee for the past five years. Harry
has my best wishes for the future and my full appreciation for the
significant role he has played in his time at Rio Tinto."
The new arrangements come into effect immediately.
Contacts
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Rio Tinto plc Rio Tinto Limited
2 Eastbourne Terrace 120 Collins Street
London W2 6LG Melbourne 3000
United Kingdom Australia
T +44 20 7781 2000 T +61 3 9283 3333
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No. 719885 ABN 96 004 458 404
This information is provided by RNS
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