Rio names Lynch's successor

RIO Tinto has appointed a new chief financial officer to succeed Chris Lynch.

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Jakob Stausholm

Former Maersk chief finance, strategy and transformation officer Jakob Stausholm has been named as Rio's new CFO.

Lynch will step down as CFO and executive director on September 3, with Stausholm to take over that same day.

Rio CEO J-S Jacques said he was delighted that Stausholm was joining Rio.

"The experience he has gained in various senior financial and strategy roles globally will be invaluable, as will his deep knowledge of both the resources and logistics industries," he said.

A University of Copenhagen graduate, Stausholm spent 19 years with Royal Dutch Shell before joining ISS in 2008 and then Maersk in 2012.

Maersk shares plunged in March when Stausholm stepped down as the result of an executive reshuffle.

Stausholm also ...