LONDON (dpa-AFX) - Anglo-Australian mining giant Rio Tinto Plc./Ltd. (RIO, RIO.AX, RIO.L) announced Wednesday that Chief Financial Officer Guy Elliott has decided to retire at the end of 2013. Elliott has agreed to continue in his role until a successor is named and to ensure a smooth transition.
'Guy is a key member of my executive team and I am grateful for his skilful leadership of the Group's finances and strategy during some challenging times,' Chief Executive Tom Albanese said in a statement.
The company said Elliott will continue on the Boards of Rio Tinto plc and Rio Tinto Ltd until he retires and has been appointed senior executive director on the Boards.
Elliott has been a director and the CFO of the company since 2002. During his 32-year career at Rio Tinto, he has in recent years helped steer the company through the global financial crisis and back to a position of financial strength.
Elliott has held a variety of commercial and management positions at Rio Tinto, including head of Business Evaluation and president of Rio Tinto Brasil.
The company also announced changes to its executive committee. Rio Tinto Energy Chief Executive Doug Ritchie will be appointed to a new role overseeing group executive Strategy, effective January 1, 2013. He will be succeeded by current Diamonds and Minerals Chief Executive Harry Kenyon-Slaney to the position, effective September 1, 2012.
Meanwhile, Rio Tinto Iron Ore International Operations President Alan Davies will succeed Kenyon-Slaney, as well as take up a position on the executive committee, both effective September 1, 2012.
Davies will retain responsibility for the Simandou iron ore project, while Dampier Salt Ltd will transfer to the Diamonds & Minerals product group from Iron Ore.
'It's important to develop people's careers by giving them new challenges. I congratulate Doug, Harry and Alan on their new appointments,' Albanese added.
RIO closed Wednesday's regular trading session at $46.96, up $0.63 or 1.36% on a volume of 3.20 million shares.
Copyright RTT News/dpa-AFX