Rio Tinto's New CEO Simplifies The Firm, Places Assets Under Review

Rio Tinto (NYSE:RIO) is undergoing a major restructure under a newly appointed CEO, Simon Trott, who took over the role on Monday. On Wednesday, he unveiled a radical simplification of the miner's operations into three core business units: iron ore, copper, and a combined aluminium–lithium group.

Trott, who previously headed the company's coveted iron ore division, said the changes would deliver sharper focus and greater accountability across the group.

"A simplified business structure, grounded in our fundamental commitment to safety and with a sharper focus on the most compelling opportunities we have, will enable us to deliver new standards of operational excellence and value creation," he said in a press release.

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With extensive knowledge of the iron ore business, Trott appointed industry veteran Matthew Holcz as the division leader. The consolidated unit ...