Rio Board to Debate CEO’s Future as Pressure Mounts Over Blasts – by David Stringer and Thomas Biesheuvel (Bloomberg News – September 9, 2020)

(Bloomberg) — Rio Tinto Group’s board will debate the future of Chief Executive Officer Jean-Sebastien Jacques as it faces pressure to respond more strongly to the destruction of ancient Aboriginal heritage sites in Australia, according to people familiar with the matter.

Recent talks with shareholders, traditional landowners and legislators indicated the company needs to take further action to restore relations with key decision makers in Western Australia, said the people, who asked not to be identified discussing private information.

The Australian state is crucial for the world’s second-largest miner, hosting iron ore operations that accounted for more than 90% of its first-half profits.

The board will discuss additional penalties over the May explosions, including whether Jacques and other key executives should remain in their roles, at a meeting that’s expected to take place before the end of this week, some of the people said.

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