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Rio Tinto Urged to Amend Remuneration Policy

Rio Tinto PLC (RIO) faces calls from pension funds and shareholders to amend a loophole in its executive remuneration policy that could deliver performance bonuses to management even in bad years for the mining company, The Age reported Tuesday. Investors have told Rio Tinto they are concerned a change in a long-term incentive known as the performance share plan has significantly improved the chances of top executives being awarded bonuses, which can amount to 190% of their salaries, the newspaper said, citing an unnamed investor. The Age said a spokesman for the company declined to comment but said consultations with shareholders were ongoing. In a speech in London last week, Rio Tinto Chairman Jan du Plessis urged an end to excessive remuneration for corporate executives. "It is absolutely clear that the spiral in executive remuneration we have seen over the last two decades simply cannot continue," Mr. du Plessis said. Newspaper website: http://www.theage.com.au Write to Dow Jones Newswires at djnews.sydney@dowjones.com Copyright (c) 2012 Dow Jones & Company, Inc.

Stock News for Companhia Vale (RIO)
DateTimeHeadline
03/05/201501:20:07Rio Tinto Clears Hurdle on Controversial Coal Pit
03/05/201500:10:45Rio Tinto Clears Hurdle on Controversial Australia Mine Expansion
03/04/201512:32:56LONDON MARKETS: ITV, StanChart Lead FTSE 100 To Higher Close
03/04/201509:40:38Correction to London Property Market Story on Tuesday
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03/03/201517:56:08Superrich Hunt for Trophies in London Property Market
02/26/201517:03:15Rio Tinto Revamps Corporate Structure to Cut Costs
02/26/201508:22:26Correction to Story on Karelian Diamonds on Wednesday
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02/24/201513:07:13BHP Billiton Digs Deep for Investors -- Update
02/22/201516:52:15BHP Chief to Shed Light On Mining-Spinoff Plan
02/22/201516:41:22BHP Chief To Shed Light On Mining-Spinoff Plan

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