All eyes will be on Rio Tinto Ltd (ASX: RIO) shares tomorrow for a couple of reasons.
One is that the mining giant is scheduled to release its quarterly update before the market open.
The other reason is that after the market close today, it announced the appointment of its new chief executive.
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Rio Tinto shares on watch
This afternoon, the miner revealed that its board has appointed Simon Trott to succeed Jakob Stausholm as chief executive. This will be effective from 25 August 2025.
According to the release, Trott is currently Rio Tinto's Iron Ore chief executive and has a track record of exceptional delivery over 25 years in roles across a wide range of commodities and geographies.
He has a strong focus on values-based performance culture and strengthening partnerships with stakeholders.
It notes that as Iron Ore chief executive, Trott strengthened the business and improved operational performance, underpinned by safety and financial discipline, reset partnerships with key stakeholders, and secured the future growth of the business with new mine developments.
Prior to that, he was Rio Tinto's first chief commercial officer. During his time in that role, Trott established the miner's Commercial operations, unlocking efficiency and deepening strategic customer relationships. Before that, he held managing director roles across multiple Rio Tinto commodities and geographies.
'An outstanding leader'
Commenting on the appointment, Rio Tinto's chair, Dominic Barton, said:
Simon is an outstanding leader with a deep understanding of mining and a track record of delivering operational excellence and creating value across our business. Simon and the Board are aligned that Rio Tinto's next phase is about unlocking significant value for shareholders from our portfolio, driven by operational performance, and cost and financial discipline.
Simon came into our Iron Ore business at a time of significant challenges and has been instrumental in rebuilding culture, strengthening external relationships and setting us on a pathway for growth. Under his leadership, Iron Ore has become a centre of innovation for the Group, driving operational excellence, technology and operating model optimisation – levers Simon can now bring to Rio Tinto at scale.
Simon Trott appears ready for the challenge of leading the mining giant. He commented:
It is a privilege to have the opportunity to lead Rio Tinto, and I am excited about our future. The progress we have made over recent years gives us a foundation to build on with discipline and focus to deliver improved performance. With our outstanding assets and people around the world, we are well positioned to grow value for shareholders and the communities who host us.
Matt Holcz, currently managing director of Pilbara Mines at Rio Tinto, will be providing interim support in the Iron Ore chief executive role until a permanent appointment is made.
