Rio Tinto (ASX, LON: RIO) has to restructure its board that will see three long-serving directors step down later this year as part of a planned transition.
In a press release issued Thursday, chairman Dominic Barton confirmed the upcoming departures, citing that the company decided to retain their expertise and experience last year during a transitional period as its new directors 鈥渇amiliarize themselves with the group.鈥�
鈥淭hat transitional phase is now largely concluded, so we will make the following changes to the board during 2025,鈥� Barton said.
Sam Laidlaw聽will step away following the conclusion of Rio鈥檚 annual meeting in May. He joined the board in February 2017 and has served as chair of the people and remuneration committee as well as senior independent director.聽These roles will be filled by current board members Ben Wyatt and Sharon Thorne respectively.
Kaisa Hietala聽will also leave the group following the May AGM. According to Barton, Hietala聽opted to step down to avoid the potential conflicts of interest arising from her non-executive directorship with Exxon Mobil.
鈥淜aisa has been a very welcome and valuable addition to the board since her appointment in March 2023, and her guidance on energy transition and business transformation in particular have contributed significantly and insightfully to our discussions,鈥� Barton stated.
In the second half of 2025, Simon Henry will also depart. Henry was appointed to the board in April 2017 and has served as chair of the audit and risk committee since May 2019. This role will be assumed by Thorne.