ADVFN - Advanced Financial Network.
HOME» NYSE » C » RIO Stock Price » RIO Stock News

Companhia Vale Share News

 Companhia Vale Do Rio Doce Stock Price
RIO Stock Price
 Companhia Vale Do Rio Doce Stock Chart
RIO Stock Chart
 Companhia Vale Do Rio Doce Stock News
RIO Stock News
 Companhia Vale Do Rio Doce Company Information
RIO Company Information
 Companhia Vale Do Rio Doce Stock Trades
RIO Stock Trades

Rio Tinto Chairman Urges End to Spiralling Executive Remuneration

By Robb M. Stewart MELBOURNE--The chairman of Rio Tinto PLC (RIO), one of the world's largest mining companies, has called for an end to excessive remuneration for corporate executives and for companies to better communicate the need for big businesses. In a speech in London, Jan du Plessis said there has been a breakdown of trust across most of the developed world in recent years, and anger against people getting "filthy rich" that has manifested in public debate and protests. "It is absolutely clear that the spiral in executive remuneration we have seen over the last two decades simply cannot continue," Mr. du Plessis told the Royal Institute for International Affairs on Wednesday. "Too many businesses sometimes appear to have lost all touch with reality, and for too long boards and remuneration committees of public companies have been all too prepared to support remuneration levels that were not necessarily demanded by the marketplace," he said. He said that it was a necessary, albeit difficult, challenge for businesses to confront the "lazy thinking" that has often characterized public debate on executive pay. South Africa-born Mr. du Plessis, who until being appointed chairman of Rio Tinto in 2009 was chairman of British American Tobacco PLC (BTI), said businesses needed to become more responsive to how they are perceived by the public, employees and shareholders. Large corporations and multinationals needed proactively to explain why big business is needed, he said. "I am afraid all too often in the popular mind, small- and medium-size businesses are seen to be good and, in simple terms, big businesses are suspected of being bad," Mr. du Plessis said. "Business--in particular, big business--has a good story, but unless we are going to stand up and be counted, we cannot expect others to do so on our behalf." Mr. du Plessis, who is also a nonexecutive director of retailer Marks & Spencer Group PLC (MKS.LN), received more than US$1.4 million in total remuneration from Rio Tinto in 2011. The mining company's chief executive, Tom Albanese, received GBP4.5 million, 19% lower than the year before after he decided to forgo a cash bonus following a large writedown in the company's struggling aluminum division. Write to Robb M. Stewart at robb.stewart@wsj.com

Stock News for Companhia Vale (RIO)
DateTimeHeadline
04/28/201609:00:00Anglo American to Sell Brazilian Businesses to China Molybdenum...
04/28/201608:37:00Rio Tinto to Buy Back $1.359 Billion Debt
04/27/201619:12:00Rio Tinto Prices Offers for US$1.5 Billion Debt Repurchase
04/21/201613:15:00Rio Tinto Plans to Buy Back $1.5 Billion in Debt -Update
04/21/201609:34:00Rio Tinto Plans to Buy Back $1.5 Billion in Debt due in 2017...
04/19/201618:12:00ADRs End Higher; Mining Firms Rise
04/19/201613:43:00Correction to Rio Tinto Trims Iron-Ore Production Update
04/18/201621:00:00Rio Tinto's Iron-Ore Shipments Fall Sharply
04/18/201619:27:00Rio Tinto's Iron-Ore Shipments ​Fall Sharply
04/18/201604:10:00Oil Prices Fall 5% in Late Asia Trading
04/18/201604:02:00Australia Stocks Pulled Lower by Energy Firms
04/18/201604:01:00Oil Prices Fall 5% in Late Asia Trading -- 3rd Update
04/17/201622:10:00Stocks Fall Sharply in Asia
04/14/201619:21:00Rio Tinto, Sinosteel Sign Iron-Ore Supply Deals
04/14/201603:37:00Rio Tinto Abandons Plan to Revise Supplier Payment Terms
04/13/201618:26:00ADRs End Higher; Steelmakers, Mining Companies Rise
04/09/201605:48:00Rio Tinto Doubles Payment Term to Help Free Up Cash
04/08/201611:00:00Rep. McCarthy Visits Rio Tinto Minerals’ Boron Mine
04/06/201602:12:00Fortescue Sees Strong Iron-Ore Shipments Amid Stable Weather...
03/18/201603:02:00Rio Tinto Shakes Up Management

Companhia Vale and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2015 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad