REG - Rio Tinto - Rio Tinto operating model & executive team updates

Rio TintoAnnouncement

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RNS Number : 8355W  Rio Tinto PLC  27 August 2025

 

Notice to
ASX/LSE

 

Rio Tinto announces operating model and executive team updates to unlock
additional shareholder value

27 August 2025

 

Rio Tinto today announces a new operating model and executive team to shape
the company's next chapter. The changes simplify and streamline the
organisation to drive greater accountability and safe, sustainable, profitable
growth through focusing on the most compelling opportunities to deliver
long-term shareholder value.

Effective immediately, Rio Tinto will simplify its product group structure to
three world-class businesses: Iron Ore; Aluminium & Lithium; and Copper.
This focused structure and leadership positions each business to deliver
excellence for customers and maximise competitive advantages and growth
potential, while benefitting from the diversified group.

The Iron Ore product group will bring together all of Rio Tinto's iron ore
operations under the leadership of Matthew Holcz, who has been appointed Chief
Executive Iron Ore. The unified portfolio will integrate Rio Tinto's Western
Australian Iron Ore operations with the Iron Ore Company of Canada and the
Simandou project in Guinea upon its completion. This will combine the proven
performance of the company's established Iron Ore operations with the
potential of Simandou, sharing safety best practices, cutting-edge
technologies and operational experience across the entire Iron Ore portfolio
to create an even stronger global business.

Rio Tinto's Lithium business will move into the Aluminium product group under
the leadership of Jérôme Pécresse. The combined product group will consist
of three businesses: Atlantic Operations Aluminium, Pacific Operations
Aluminium and Lithium. This will deliver a streamlined structure, bringing
together businesses centred on processing capability and downstream exposure,
while enabling the shared deployment of productivity initiatives, such as the
Safe Production System, which have been a key driver of improved performance
in the Aluminium business.

Copper, led by Katie Jackson, remains well positioned to capitalise on the
global energy transition, focused on the successful ramp up of Oyu Tolgoi, the
stabilising of Kennecott and advancing future options, including the
Resolution project in the USA and partnerships such as Nuevo Cobre in Chile.

Rio Tinto Chief Executive Simon Trott said: "A simplified business structure,
grounded in our fundamental commitment to safety and with sharper focus on the
most compelling opportunities we have, will enable us to deliver new standards
of operational excellence and value creation. It will bring greater
accountability and focus to our teams, underpinned by a more disciplined
approach to operational performance and capital investment.

"We have delivered resilient results this year, remain on track to deliver
strong mid-term production growth, and continue to make progress against our
objectives. Our focus now is on unlocking further shareholder value, putting
both our capital and talent where it will deliver the greatest returns.

"I want to welcome Matt to his new role leading our global Iron Ore business.
With over two decades of international mining experience, deep roots in the
Pilbara where he currently oversees 18 mines - and as a role model for Rio
Tinto's values - he is the kind of leader we need to drive safety standards,
performance, and strong partnerships with communities, in our largest global
business."

Outside of the three core product groups, Rio Tinto's Borates and Iron &
Titanium businesses will move to the Chief Commercial Officer's portfolio for
strategic review. An update will be provided on the outcome of these reviews
in due course. Throughout this review process, these businesses will continue
to focus on running safely and profitably to meet customer commitments.

With these changes, Sinead Kaufman will leave Rio Tinto at the end of October
2025.

Simon Trott said: "I would like to thank Sinead for her significant
contribution over almost 30 years with the company. Sinead joined Rio in 1997
as a geologist in the UK and has built an exceptional career, holding senior
leadership roles across a range of commodities, including leading our
divestment from coal and establishing our lithium operations. Throughout her
tenure, Sinead has been a highly valued colleague and a mentor to many; I'm
particularly grateful for her tremendous support in navigating these changes."

The Chief Executive Australia role will also conclude, with responsibilities
for external relationships and stakeholder engagement moving to a new head of
Australia role. Kellie Parker will remain in role during a transition period,
reporting to Simon Trott, to ensure the orderly transfer of her
responsibilities.

Simon Trott said: "Kellie has been a transformational leader through a
challenging period for Rio Tinto in Australia, setting us on a path towards
being a better partner to the communities in which we operate. Kellie
approached this work with sincerity and courage and has successfully instilled
important lessons and practices into our business, which we will sustain. I am
deeply grateful for Kellie's commitment and the change she has driven during
her time in this role and for her major contribution to Rio during her 24
years with the company."

Rio Tinto's Executive Committee with immediate effect is:

Simon Trott, Chief Executive

Bold Baatar, Chief Commercial Officer

Georgie Bezette, Chief People Officer

Peter Cunningham, Chief Financial Officer

Mark Davies, Chief Technical Officer

Isabelle Deschamps, Chief Legal, Governance and Corporate Affairs Officer

Matthew Holcz, Chief Executive Rio Tinto Iron Ore

Katie Jackson, Chief Executive Rio Tinto Copper

Jérôme Pécresse, Chief Executive Rio Tinto Aluminium & Lithium

 

Biographies for Executive Committee members

Simon Trott - Chief Executive

Nationality: Australian

Location: London

 

Simon was appointed Rio Tinto Chief Executive in July 2025. He has been on the
Executive Committee since 2018, most recently as Chief Executive Iron Ore, and
before that as Chief Commercial Officer. Since joining Rio Tinto in 2000,
Simon has held a variety of operating, commercial and business development
roles across a number of commodities, including Managing Director of
businesses such as Salt, Uranium, Borates and Diamonds.

 

Bold Baatar - Chief Commercial Officer

Nationality: Mongolian

Location: Singapore

 

Bold was appointed Chief Commercial Officer in 2024. Before this he has held
roles on the Executive Committee since 2016; as Chief Executive Copper and
Chief Executive Energy & Minerals. Bold joined Rio Tinto in 2013 and has
also held leadership roles across Marine, Iron Ore sales and marketing and
Copper.

Georgie Bezette - Chief People Officer

Nationality: Australian

Location: London

 

Georgie was appointed Chief People Officer in January 2025. She joined Rio
Tinto in 2008 and prior to being CPO, she held various People leadership roles
in Energy & Minerals, Copper, and corporate HR.

 

Peter Cunningham - Chief Financial Officer

Nationality: British

Location: London

 

Peter has been Chief Financial Officer and Executive Director since 2021. He
has been with Rio Tinto for over three decades and has held senior leadership
roles including Group Controller, Head of Health, Safety, Environment and
Communities; Head of Energy and Climate Strategy; and Head of Investor
Relations.

 

Mark Davies - Chief Technical Officer

Nationality: Australian

Location: Brisbane

 

Mark has been Chief Technical Officer since 2021 and previously served as
Group Executive, Safety, Technical and Projects on the Executive Committee. He
joined Rio Tinto in 1995 as a senior mechanical engineer and has worked in
various operational and functional leadership roles, including Vice President
Global Procurement, Chief Commercial Officer and interim CEO for the Iron and
Titanium business unit, and head of Group Risk.

 

Isabelle Deschamps - Chief Legal, Governance and Corporate Affairs Officer

Nationality: Canadian and British

Location: London

 

Isabelle joined Rio Tinto in 2021 as Chief Legal Officer & External
Affairs Officer. Prior to this, she was General Counsel at AkzoNobel and has
previously held international legal roles at Unilever and Nestle.

 

Matthew Holcz - Chief Executive Iron Ore

Nationality: Australian

Location: Perth

 

Matthew joined Rio Tinto in 2007 and has over 20 years' experience in the
mining industry across operational, major projects and commercial roles, in a
range of commodities including iron ore, copper and nickel and geographies
including Australia, Asia, South America and London. He was most recently
Managing Director, Pilbara Mines, overseeing Rio Tinto's 18 iron ore mines in
the region.

 

Katie Jackson - Chief Executive Copper

Nationality: British

Location: London

 

Katie joined Rio Tinto in 2024 as Chief Executive Copper. She was previously
President of National Grid Ventures, responsible for the development and
operation of large-scale energy infrastructure. Katie has extensive experience
in the international energy sector, including senior roles at Shell and BG
Group in business development and operational and growth roles.

 

Jérôme Pécresse - Chief Executive Aluminium & Lithium

Nationality: French

Location: Montreal

 

Jérôme joined Rio Tinto in 2023 as Chief Executive Aluminium. He was
previously President and CEO of General Electric (GE) Renewable Energy and has
over 30 years' experience in global companies in the mining and energy fields,
including in leadership roles at Alstom and Imerys.

 
LEI: 213800YOEO5OQ72G2R82
Classification: 3.1 Additional regulated information required to be disclosed under the laws of a Member State
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This announcement is authorised for release to the market by Andy Hodges, Rio
Tinto's Group Company Secretary.

 

 

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