Jakob Stausholm will succeed Chris Lynch as chief financial officer of Rio Tinto.
Stausholm, who recently stepped down as group chief financial officer of A.P. Moller – Maersk, will take over as CFO in September, while also starting as an executive director.
At the same time, Lynch will stand down from the Rio board and, as previously announced, will retire from the company at the end of September.
Stausholm has more than 20 years’ experience working in senior finance roles in Europe, Latin America and Asia.
He was group CFO and an executive director of A.P. Moeller – Maersk and chief financial, strategy & transformation officer for the transport & logistics division from December 2016 until March 2018, having joined the Maersk Group in 2012.
Stausholm was group CFO of the global facility services provider ISS from 2008 to 2011; a non-executive director of Statoil from 2009 to 2016; and non-executive director of Woodside Petroleum from 2006 to 2008.
Before that, he spent over 19 years with Royal Dutch Shell in numerous finance positions globally and as chief internal auditor for the group.
Rio Tinto chief executive Jean-Sébastien Jacques commented: “The experience he has gained in various senior financial and strategy roles globally will be invaluable, as will his deep knowledge of both the resources and logistics industries.
“I would also like to acknowledge Chris’s outstanding contribution to Rio Tinto. He leaves Rio Tinto a stronger company than when he started in 2013.
“Rio Tinto has the strongest balance sheet in the sector, and Chris has helped embed a disciplined focus on costs and capital allocation.”
Lynch joined the Rio Tinto board in September 2011 and was appointed CFO in April 2013.