Rio Tinto CFO Elliott takes SABMiller non-exec post

OUTGOING RIO TINTO CFO Guy Elliott is to take up an independent non-executive director role with international beer brewery SABMiller, effective from 1 July 2013.

Elliott will leave Rio Tinto’s boardroom as the longest-serving director the company has seen, with his contribution described as “invaluable” by chairman Jan du Plessis, an assessment corroborated by a 69.5p drop in Rio’s share price when Elliott’s departure was announced.

He began his career in 1977 with Kleinwort Benson before joining Rio Tinto in 1980 after gaining an MBA from INSEAD. He held a variety of marketing, strategy and general management positions in the Rio Tinto Group, including Head of Business Evaluation, and President of Rio Tinto Brasil, before being appointed as CFO in 2002.

Elliott also boasts a non-executive directorship at Royal Dutch Shell, which he has held since 2010. He has also been chairman of its audit committee since May 2011 and was non-executive director and senior independent director of Cadbury from 2007 and 2008 respectively until 2010.

Operating across six continents and in 75 countries, SABMiller is responsible for well-known brands including Peroni, Pilsner Urquell and Grolsch and grew 11% in 2012, taking revenues of $31.38bn (£20.68bn).

SABMiller executive chairman Graham MacKay, said: “He [Elliott] has been part of the leadership team of a global business working across a mix of emerging and developed markets, and has deep experience of working through joint ventures and partnerships – all very pertinent to our business structure – as well as an understanding of consumer facing businesses acquired during his time on the Cadbury board.”