Rio Tinto appoints Chris Lynch as CFO
Mining company also streamlines executive committee
By CFOWorld.co.uk staff | CFO UK | Published 13:46, 28 February 13
Global mining company Rio Tinto has appointed Chris Lynch as its CFO, it was announced on Thursday.
In a statement, the company said Lynch’s appointment will take effect on 18 April which would see him succeed Guy Elliott as the mining giant's finance boss. Elliott announced his intention to retire in July 2012 after more than 30 years Rio Tinto.
Lynch, who joined the mining company's board as a non-executive director in September 2011, will become an executive director and member of Rio Tinto's executive committee as CFO-elect on Friday.
Announcing the appointment, Rio Tinto chief executive Sam Walsh said, "Chris Lynch is an extremely high-calibre addition to our executive team with a strong pedigree of board, mining and financial experience, including at BHP Billiton where he was chief financial officer and ran the Carbon Steel Materials division, and 20 years at Alcoa."
The company is also streamlining its executive committee by reducing the number of positions reporting to chief executive Walsh from 11 to nine. This means that the vacant group executive strategy officer's position will not be filled and strategy will be part of the CFO's portfolio.
Additionally, group executive Bret Clayton's business support and operations remit will be restructured and its responsibilities will be transferred to other executive committee members effective Friday.
However, Rio Tinto said that Clayton had agreed to stay with the company to assist with other activities such as overseeing Pacific Aluminium’s divestment.
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