Rio Tinto investors have opposed a lucrative exit package given to the miner’s ex-CEO despite the blasting of the Juukan Gorge occurring under his watch. | NickToscano1
More than half of Rio Tinto’s shareholders have revolted against its decision to award former CEO Jean-Sebastien Jacques a lucrative exit package despite the destruction of the 46,000-year-old Juukan Gorge rock shelters occurring under his watch.
Prominent proxy advisers including Institutional Shareholder Services and CGI Glass Lewis – firms that advise large shareholders on how to vote on executive pay and other corporate matters – had recommended their clients vote against the report.
Rio Tinto’s senior Australian director, Simon McKeon, acknowledged the company “did not have the right relationship with Australia 12 months ago”, despite the country accounting for the vast majority of Rio’s earnings. He said it had been a year of “enormous learning” for Rio and implored Australian shareholders to judge the company in another year’s time.
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