Breaking: Rio Tinto CEO, top executives resign amid cave blast crisis
Rio Tinto boss Jean-Sébastien Jacques and two senior executives will be replaced after an investor revolt forced the mining giant's board to escalate its response to the blasting of the ancient Juukan Gorge rock shelters.
In a statement on Friday morning, the board said Mr Jacques, 48, would stay as CEO until the appointment of his successor or until March 31, whichever was earlier. Although Rio Tinto claimed it believed it had the PKKP's consent until it was too late to stop the blast safely, the miner has issued public apologies and has acknowledged multiple failures in its communication with the traditional owners that could have prevented the debacle.
However, the bonus cuts have not satisfied investors and Indigenous groups who told board members that docking the pay of well-paid executives fell significantly short of true accountability for the destruction of such a significant site.and UniSuper and a group of 81 British pension funds made their demands for greater sanctions clear.
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