Rio Tinto CEO to step down after $14 billion charge

LONDON Thu Jan 17, 2013 12:57pm IST

Global miner Rio Tinto Chief Executive Tom Albanese is pictured during a news conference in Sydney November 29, 2012. REUTERS/Tim Wimborne/Files

Global miner Rio Tinto Chief Executive Tom Albanese is pictured during a news conference in Sydney November 29, 2012.

Credit: Reuters/Tim Wimborne/Files

Related Topics

Stocks

   

LONDON (Reuters) - Global miner Rio Tinto (RIO.L) (RIO.AX) said its chief executive would step down after it announced a $14 billion non-cash impairment charge in its 2012 results due to problems in Mozambique and aluminium assets.

The group said Tom Albanese would step down as chief executive by mutual agreement with the Rio Tinto Board, and he would be replaced by Iron Ore Chief Executive Sam Walsh.

(Reporting by Kate Holton; editing by Sarah Young)

FILED UNDER:

Economic Pulse

REUTERS SHOWCASE

Vodafone Tax Dispute

Vodafone Tax Dispute

India advised against challenging Vodafone tax ruling - source  Full Article 

Banking Sector

Banking Sector

India's laggard state lenders face tough sell on capital raising plan  Full Article 

Trade Deal

Trade Deal

WTO postpones trade deal by a day after last-minute objection.  Full Article 

Falling Oil Prices

Falling Oil Prices

Saudis signal no push for oil cut as market to "stabilise itself"  Full Article 

Raising Stake

Raising Stake

Nippon Life to raise stake in Reliance Capital fund unit  Full Article 

Sterilisation Camps

Sterilisation Camps

Sterilisation targets remain in all but name, critics say  Full Article 

Share Buyback

Share Buyback

Samsung Electronics to buy back $2 billion in shares  Full Article 

Microsoft in China

Microsoft in China

Microsoft to pay China $140 million for 'tax evasion'   Full Article 

Flashback: 26/11

Flashback: 26/11

The three-day attack in November 2008 left 166 dead.  Slideshow 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage