Rio Tinto CEO to step down after $14 billion charge
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)
- Tweet this
- Share this
- Digg this
Half of India's thermal power stations have less than a week's supply of coal on hand, according to weekly data, the lowest level since mid-2012 when millions of people were left without power in one of the world's worst blackouts. Full Article
In race for bigger margins, drug makers willing to lose the India "advantage". Full Article