Rio Tinto CEO Jakob Stausholm To Step Down Later This Year

Rio Tinto (RIO), the world’s largest iron ore miner, announced in a surprise move on Thursday that CEO Jakob Stausholm will step down from the group later this year.

Stausholm had joined the company in 2018 as the Executive Director and Chief Financial Officer and was elevated to the Chief Executive’s role in January 2021.

According to a Reuters report, Stausholm’s tenure saw a cultural revamp at the firm that was criticized for workplace toxicity.

The report cited Berenberg analyst Richard Hatch saying that the news comes as a big surprise and was unexpected. “No clear reason for his departure has been given by the company other than to state that now is 'a natural moment' to appoint a successor – but it does not feel that natural to us,” he said.

Hatch also said that he expected Stausholm to remain with the firm and drive the integration of the lithium business.

Meanwhile, Rio Tinto stated that Stausholm reset the firm’s strategy “to align the group to the opportunities of the energy transition and shaped a pathway to a decade of profitable growth.”

Stausholm will continue to lead the firm until a successor is appointed. Rio Tinto said it is already working on a rigorous selection process led by the Nominations Committee.

Rio Tinto Chair Dominic Barton said this is a natural moment to appoint Stausholm’s successor as the company eyes its next phase, in which it will double down to deliver greater operational performance to realize the full potential of its assets.

Rio Tinto ADRs traded marginally in the red in Thursday’s pre-market session. Although the ADRs gained over 5% in 2025, they have declined over 14% in the past 12 months.

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