Rio Tinto confirms Peter Cunningham as Chief Financial Officer
June 17 2021 - 2:24AM
Business Wire
Rio Tinto has appointed Peter Cunningham as Chief Financial
Officer with immediate effect. Peter, who has been Interim Chief
Financial Officer since 1 January 2021, will also join the Rio
Tinto Board as an executive director at the same time.
Peter was previously Group Controller and has held a number of
senior financial and non-financial leadership positions across Rio
Tinto in Australia and the UK. In a career spanning 28 years with
Rio Tinto, he has held roles including Global Head of Health,
Safety, Environment & Communities; Head of Energy and Climate
Strategy; and Head of Investor Relations. Prior to joining Rio
Tinto, Peter qualified as a chartered accountant.
Rio Tinto chief executive Jakob Stausholm said “I am delighted
to confirm Peter in the role and, having worked closely with him
for a number of years, I know he is the ideal person to be our
Chief Financial Officer. His detailed knowledge of the company and
of the financial and non-financial drivers of our industry will be
invaluable as we continue to strengthen Rio Tinto.”
Rio Tinto chairman Simon Thompson said "I look forward to Peter
joining the Rio Tinto Board and know from experience that his deep
understanding of Rio Tinto and commitment to disciplined capital
allocation will serve shareholders well and enrich our Board
discussions.”
Rio Tinto confirms that there are no matters to be disclosed
pursuant to Rule 9.6.13(1)-(6) of the Listing Rules of the UK
Listing Authority.
Classification: 3.1. Additional regulated information required
to be disclosed under the laws of a Member State.
Notes to editors
Peter Cunningham will be issued a standard Rio Tinto executive
contract, which includes a 12-month notice period. The remuneration
package is in line with our Remuneration Policy approved by
shareholders in 2021, and is comprised of the following
elements:
- A base salary of £700,000.
- Target annual bonus opportunity at 100 per cent of base salary
(with a maximum opportunity of 200 per cent of base salary).
- A long-term incentive plan award of up to 400 per cent of base
salary with the first grant to be made in 2022.
- A company pension contribution or a cash allowance in lieu of
pension equal to 14 per cent of base salary.
- Other benefits will include company provided health care
coverage and eligibility to participate in the all-employee share
plans.
- A minimum shareholding requirement of 300 per cent of base
salary applies.
Further detail will be disclosed in the 2021 Directors’
Remuneration Report.
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3000 Australia
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