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
08/26/201504:05:00Anglo Pacific Net Loss Narrows on Higher Royalty Income
08/24/201517:37:00ADRs End Lower; Chinese, Commodities Firms Decline
08/20/201505:59:00From Mining to Refining: Low Commodity Prices Force Shift at...
08/16/201522:19:46Is A$100 a Share Cursed? -- Market Talk
08/13/201506:10:03Glencore Hit by Write-Down, Cuts Capital Spending
08/11/201517:50:53ADRs End Lower; Miners, Steelmakers Among Decliners
08/06/201504:20:51Commodities Slump Slams Rio Tinto Earnings--Update
08/06/201504:20:09Commodities Slump Slams Rio Tinto Earnings
08/06/201503:18:50Commodities Slump Slams Rio Tinto Earnings
08/05/201522:30:25China Shares Fall; Japan Rises Ahead of U.S. Jobs Data
08/04/201504:18:37Australian Shares End Higher, Helped by Earnings and Sales Data
07/28/201504:28:06Australia Shares End Slightly Down; Energy Stocks Rise
07/23/201509:00:00Industrial Metals and Minerals Stocks under Review -- Uranium...
07/23/201503:50:48Fortescue Deepens Cuts as Iron-Ore Downturn Bites
07/22/201506:50:53Tech, Resources Stocks Weigh on European Markets -- Update
07/21/201503:51:17Australia Shares Extend Gains for Sixth Straight Day
07/20/201504:07:10Australia Shares Rise for a Fifth Straight Session
07/16/201518:01:37ADRs End Higher; National Bank of Greece Declines
07/16/201514:26:21Anglo American Takes up to $4 Billion in Write-Downs -- 2nd Update
07/16/201504:50:10Anglo American Takes up to $4 Billion in Write-Downs -- Update

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 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad