Rio overhauls operations and executive team

Rio Tinto (ASX: RIO) is strategically reviewing its portfolio and undergoing major operational reform that will see two senior executives exit the company.  

The company is consolidating its product group into three divisions — iron ore, aluminium and lithium, and copper — to maximise competitive advantage and growth potential while still benefiting from a diverse portfolio.  

The company’s borates and iron and titanium businesses — spanning across Canada, Africa and the US — are being reviewed by the chief commercial officer following two consecutive cash flow negative years from Rio’s minerals division. 

Rio Tinto chief executive Simon Trott says a simplified business structure will enable the company to deliver new standards of operational excellence and value creation. 

“It will bring greater accountability and focus to our teams, underpinned by a more disciplined approach to operational performance and capital investment,” he said. 

With these changes, Rio Tinto minerals chief executive Sinead Kaufman will leave the company in October 2025. 

“Sinead joined Rio in 1997 as a geologist in the UK and has built an exceptional career, holding senior leadership roles across a range of commodities, including leading our divestment from coal and establishing our lithium operations,” Mr Trott said.  

Rio Tinto Australia chief executive Kellie Parker will exit the company as the role concludes. Ms Parker’s responsibilities for external relationships and stakeholder engagement will move to a new head of Australia role. 

“I am deeply grateful for [Ms Parker’s] commitment and the change she has driven during her time in this role and for her major contribution to Rio during her 24 years with the company,” Mr Trott said. 

The iron ore product group will consolidate all the company’s iron ore operations — Rio’s WA iron ore operations with the Iron Ore Company of Canada and the Simandou project in Guinea — under newly appointed iron ore chief executive Matthew Holcz.  

By integrating its iron ore operations, Rio will combine the proven performance of its established operations with the potential of Simandou, sharing safety best practices, cutting-edge technologies and operational experience across the entire portfolio. 

Rio Tinto aluminium and lithium chief executive Jérôme Pécresse will lead the lithium and aluminium product group consisting of the company’s Atlantic Operations aluminium, Pacific Operations aluminium and lithium. 

This collation of Rio’s aluminium and lithium operations will deliver a streamlined structure, bringing together businesses centred on processing capability and downstream exposure, while enabling the shared deployment of productivity initiatives. 

Rio Tinto copper chief executive Katie Jackson will continue to lead the company’s copper business which remains focused on the successful ramp up of Oyu Tolgoi, the stabilising of Kennecott and advancing future options, including the Resolution project in the US and partnerships such as Nuevo Cobre in Chile. 

“We have delivered resilient results this year, remain on track to deliver strong mid-term production growth, and continue to make progress against our objectives,” Mr Trott said. 

“Our focus now is on unlocking further shareholder value, putting both our capital and talent where it will deliver the greatest returns.”