Leadership changes, News, Rio Tinto

Rio Tinto makes Bold new appointment

Rio

Rio Tinto has appointed its former copper chief executive Bold Baatar to the role of chief commercial officer (COO) following its current COO Alf Barrios’ decision to retire.

Baatar is set to take on accountability for business development immediately, and will relocate to Singapore to take up the role of COO in September.

The new appointment will see Baatar lead Rio’s commercial organisation, accountable for sales and marketing, procurement, marine, and logistics activities.

He will also take on leadership for business development for the Rio group and maintain his role as executive committee lead for Guinea, continuing to head Rio Tinto’s relationships with its joint venture partners on the Simandou project.

“Bold is ideally suited to help deliver our strategy of building a stronger Rio Tinto for the future and growing with discipline, as he leads our commercial and business development activities,” Rio chief executive Jakob Stausholm said.

“He brings deep experience across geographies, commodities, and markets – and combines strong business development expertise with a focus on developing world class relationships.

“I look forward to seeing how his leadership will help us to create both value and growth.”

Baatar joined Rio in 2013 and has been an executive committee member since December 2016.

In his time at Rio, Baatar has held a range of leadership positions across both product group and commercial teams.

He was appointed chief executive copper in February 2021 and previously led the energy and minerals product group.

“I am thrilled to be taking on my new role at a time when Rio Tinto has so much opportunity to deliver value for our shareholders, customers and partners through the innovation and growth needed to reach net zero,” Baatar said.

“By being ambitious together, we can find new and better ways to create shared value.”

Stausholm thanked Barrios for his contributions to the company over his decade of service.

“Alf strategically repositioned a number of Rio Tinto’s business areas, delivering significant improvements in safety, operational and financial performance during his seven years leading our aluminium business, and over three years in commercial and as chair for China, Japan and Korea,” he said.

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