Rio Tinto (ASX:RIO) appoints new chairman

Mining giant Rio Tinto (ASX:RIO) has selected Dominic Barton to succeed Simon Thompson as the company’s new chairman.

A Ugandan-born Canadian, Dominic spent over 30 years at McKinsey & Company, including nine as the global managing partner and six as Asia chairman. Most recently, he has been Canada’s ambassador to China since 2019.

Dominic’s previous corporate governance work includes being chair of Teck Resources, a non-executive director at Singtel and a non-executive director at Investor AB.

“I am delighted with the choice of Dominic, who I believe brings exactly the skills and experiences that we in Rio Tinto need. I am truly looking forward to working with Dominic in our effort to continue to strengthen Rio Tinto, in particular drawing on his wealth of experience across Asia in both a business and diplomatic capacity,” said Rio’s chief executive Jakob Stausholm.

“I would like to thank Simon for his dedication to Rio Tinto and the support and counsel he has provided, and continues to provide, to me during a period of transformative change,” he added.

Dominic will join the board with effect from April 4, 2022 and be appointed to the role of chair at the conclusion of Rio’s annual general meeting on May 5, 2022.

Simon Thompson will step down as a non-executive director and chair at the same time on May 5, having served as chair for four years and as a non-executive director since 2014.

Shares in Rio Tinto (ASX:RIO) are trading 0.9 per cent lower at $97.15.