The Board of Rio Tinto has appointed Simon Trott to succeed Jakob Stausholm as Chief Executive, with effect from 25 August 2025. Simon, currently Iron Ore Chief Executive, has a track record of exceptional delivery over 25 years in roles across a wide range of commodities and geographies.

As Iron Ore Chief Executive, Simon has strengthened the business and improved operational performance, underpinned by safety and financial discipline; reset partnerships with key stakeholders; and secured the future growth of the business with new mine developments. Previously, as Rio Tinto’s first Chief Commercial Officer, Simon established the Group’s Commercial operations, unlocking efficiency and deepening strategic customer relationships. Prior to this he held Managing Director roles across multiple Rio Tinto commodities and geographies.

Simon will be on a standard Rio Tinto executive director contract, which includes a 12-month notice period. He will receive a remuneration package that is in line with our Remuneration Policy. With effect from 25 August 2025, as Chief Executive, Simon’s remuneration package will include: a base salary of £1,340,000 (AUD 2,740,828); Participation in incentive plans consistent with the Remuneration Policy; and other benefits which will be provided as standard including a company pension benefit of 14% of base salary and relocation support.

Rio Tinto Chair Dominic Barton said: “Simon is an outstanding leader with a deep understanding of mining and a track record of delivering operational excellence and creating value across our business”.

As the Chief Executive Designate, Simon Trott, said: “It is a privilege to have the opportunity to lead Rio Tinto, and I am excited about our future. The progress we have made over recent years gives us a foundation to build on with discipline and focus to deliver improved performance. With our outstanding assets and people around the world, we are well positioned to grow value for shareholders and the communities who host us”.

Jakob Stausholm will step down as Chief Executive and from the Board of Directors upon Simon assuming the role. Matt Holcz, currently Managing Director, Pilbara Mines at Rio Tinto, will be providing interim support in the Chief Executive Iron Ore role until a permanent appointment is made.