Rio Tinto appoints Simon Trott as new Chief Executive

The Board of Rio Tinto has announced the appointment of Simon Trott as the company’s next Chief Executive, effective 25 August 2025. He will succeed Jakob Stausholm, who is stepping down after nearly five years in the role.

Simon Trott currently leads Rio Tinto’s Iron Ore business and brings over 25 years of experience across various commodities and regions. His previous roles at the company include Chief Commercial Officer and multiple Managing Director positions. As Iron Ore Chief Executive, Trott has overseen operational improvements and new mine developments, while strengthening relationships with key stakeholders.

Rio Tinto Chair Dominic Barton noted Trott’s "deep understanding of mining" and highlighted his contribution to improving performance and fostering innovation within the Iron Ore division. Barton also acknowledged Stausholm’s leadership during a pivotal period for the company, citing progress in stakeholder engagement and portfolio alignment.

In his statement, Trott expressed appreciation for the opportunity and outlined his intention to maintain focus on performance, value creation, and stakeholder dialogue. He also thanked Stausholm for his leadership and support during their time working together.

Stausholm reflected positively on his tenure, emphasizing the momentum achieved and the foundation laid for future growth. He expressed confidence in Trott’s ability to lead the company through its next phase.

The appointment follows a formal selection process led by the Board’s Nominations Committee and considered both internal and external candidates as part of ongoing succession planning.

Following Trott’s transition, Matt Holcz, currently Managing Director of Pilbara Mines, will temporarily oversee the Iron Ore division until a permanent successor is named.

Trott will assume the role under a standard executive contract, with a base salary of £1.34 million and participation in Rio Tinto’s incentive schemes. Further details on remuneration will be included in the company’s 2025 Directors’ Remuneration Report.

Jakob Stausholm will remain with the company through his notice period and will be eligible for certain compensation elements in line with Rio Tinto’s published remuneration policy.

Source and Photo: Rio Tinto