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

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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)

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