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Rio Tinto has appointed Peter Cunningham as its chief financial officer, effective immediately. Peter, who will serve as interim chief financial officer from January 1, 2021, will also join Rio Tinto’s board of directors as executive director.
Peter served as the Group Chief Financial Officer and held a number of senior financial and non-financial leadership positions at Rio Tinto in Australia and the United Kingdom. During his 28-year career at Rio Tinto, he has held positions including Global Head of Health, Safety, Environment and Community; Head of Energy and Climate Strategy; and Head of Investor Relations. Before joining Rio Tinto, Peter was qualified as a chartered accountant.
Rio Tinto CEO Jakob Stausholm said: “I’m very pleased to confirm Peter’s position and have worked closely with him for many years. I know that he is the ideal candidate to serve as our chief financial officer. His detailed knowledge of the company continues to strengthen Rio Tinto, the financial and non-financial drivers of our industry will be priceless.”
Rio Tinto Chairman Simon Thompson said: “I look forward to Peter joining Rio Tinto’s board of directors and have learned from experience that his deep understanding of Rio Tinto and his commitment to strict capital allocation will provide good services to shareholders and enrich our board of directors. discussion.”
Rio Tinto confirmed that, in accordance with Rules 9.6.13(1)-(6) of the Listing Rules of the United Kingdom Listing Authority, there are no matters that need to be disclosed.
Classification: 3.1. Other regulated information disclosed in accordance with the legal requirements of member states.
Notes to the editor
Peter Cunningham will receive a standard Rio Tinto executive contract that includes a 12-month notice period. The remuneration package complies with the remuneration policy approved by our shareholders in 2021 and includes the following elements:
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A basic salary of 700,000 pounds.
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The target annual bonus opportunity is 100% of the basic salary (the maximum opportunity is 200% of the basic salary).
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The long-term incentive plan rewards up to 400% of the base salary, and the first subsidy will be issued in 2022.
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Company pension contributions or cash allowances instead of pensions are equivalent to 14% of the basic salary.
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Other benefits will include medical insurance provided by the company and eligibility to participate in the all-employee share plan.
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The minimum shareholding requirement is 300% of the basic salary.
Further details will be disclosed in the 2021 directors’ remuneration report.
View the source version on businesswire.com: https://www.businesswire.com/news/home/20210616006071/en/
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