THE CFO of FTSE 100-listed mining company Rio Tinto is to leave after 32 years with the business.
Guy Elliott, who has served in the top finance role since 2002, will retire at the end of 2013. He will continue as CFO until a successor is found, and as part of the changeover he has been appointed senior executive director on the boards of both the PLC and Rio Tinto Limited.
Rio Tinto chairman Jan du Plessis said: "Guy has enjoyed an outstanding career during his 32 years at Rio Tinto, which includes ten years on the board. I would like to thank him on behalf of the board for his invaluable contribution, particularly in recent years as he helped steer the group through the global financial crisis and back to a position of financial strength."
With a background in marketing, Elliott previously told Financial Director that he did not feel he was at a disadvantage due to not being an accountant. "An accountant has a particular way of looking at things and I've picked up some of that – but my perspective is probably somewhat different," he said.
Rio Tinto's share price was 2,963.5p in this morning's trading, a fall of 69.5p.
For more companies and markets data, visit the Share Price Centre
You may also like
If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.
In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.