Sam walsh rio tinto biography of christopher
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Rio Tinto CEO Sam Walsh played a major part in improving the fortunes of the company, which prior to his appointment was in debt and reeling from the consequences of several acquisitions gone sour
In 2012, the world’s second-largest mining company, Rio Tinto, reported a multibillion-dollar loss after CEO Tom Albanese made several expensive and unprofitable acquisitions. With haste, Rio’s board made tough decisions in order to get the firm back on track. Sam Walsh, then chief executive of Iron Ore, was called upon to get Rio Tinto firmly back in the black.
His calm and assured leadership style has put balance in to the company, which was reeling after the dramatic change in leadership and massive write-downs. Essentially, this is what it’s all about for Sam Walsh, who heralds finding the right balance as key to running any company.
Walsh replaced Tom Albanese as Rio’s Chief Executive in January 2013 when the group announced plans for a $14bn write-down after the takeover o
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Jean-Sébastien Jacques to succeed Sam Walsh as Rio Tinto chief executive
Rio Tinto chief executive Sam Walsh will retire from the business on 1 July 2016 and will be succeeded by Copper & Coal chief executive Jean-Sébastien Jacques. To ensure a smooth transition, Jean-Sébastien will join the board and become deputy chief executive with immediate effect.
During more than three years on Rio Tinto’s executive committee, Jean-Sébastien has brought greater focus to the copper and the coal businesses. He has delivered a step-change in both safety and cash performance while significantly reducing costs. Prior to joining Rio Tinto, Jean-Sébastien worked for more than 15 years across Europe, Southeast Asia, India and the United States in a wide range of operational and functional positions in the aluminium, bauxite and steel industries. He served as group strategy director for Tata Steel Group from 2007 to 2011.
Rio Tinto chairman Jan du Plessis said "Jean-Sébastien is a very exp
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Rio Tinto ledare executive Sam Walsh to retire
Rio Tinto chief executive Sam Walsh is to retire in July after just three years in the top job.
He will be succeeded by the firm's coal and copper head Jean-Sebastien Jacques, who used to be a strategy director at Tata Steel Group.
The world's second-largest miner has been struggling to maintain profits mitt i a slump in commodity prices.
Under Mr Walsh, Rio undertook a major cost-cutting programme and dropped its progressive dividend policy.
Shareholders will no längre see payouts maintained or raised each year after the mining giant reported a 50% drop in underlying annual earnings gods month.
In a statement, external, Rio Tinto said the latest announcement was "the culmination of comprehensive and deliberate executive succession process".
"Jean-Sebastien is the right individ to lead Rio Tinto in an increasingly complex world filled with both challenges and opportunities for our industry."
Mr Jacque