Guy Elliott’s exit will make way for new strategic role.
Anglo-Australian mining company Rio Tinto has announced that its chief financial officer Guy Elliott will retire next year amid a shakeup of the company’s strategic roles.
Elliott has worked with the mining giant for 32 years and will exit at the end of 2013.
A new position will be created following his retirement, overseeing the group’s strategy.
Elliott was finance director during Rio Tinto’s acquisition of Alcan in 2007, a $38 billion (£24.6bn) move dubbed “ill-fated”.
He said six months ago that he would not take his annual bonus because of the implications of the deal, which is said to have almost crippled the company.
Doug Ritchie, current head of Rio Tinto’s group energy division, is set to take over the group strategy and business development role, which will be based in London.
Alan Davies is set to replace Harry Kenyon-Slaney as head of diamonds and minerals within the company, with Kenyon-Slaney taking on the Brisbane-based role of energy chief executive on September 1 this year.
Davies will also join the executive committee.