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Rio Tinto
Created by
Clare Richards
⟶ Updated 26 Nov 2017 ⟶
List of edits
Timelines by
Clare Richards
:
28 Nov 2017
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clare
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Events
2007: Alcan aluminium acquisition for US$38bn; CEO Albanese's first big deal & it's a dud
2011: purchase of Simandou Iron Ore, Guinea
Rio file 2011/12 accounts (including inflated value of Mozambique asset) & raise $5bn additional finance
Aug 2016: Rio ‘discover’ 2011 emails re Guinea $10.5m bribery
Oct 2017: FCA fine £27.4m re Mozambique accounting
Jan 2013: Write-downs totalling $11bn (incl. Mozambique) and Rio files its first ever loss
Jan 2012: CEO & CFO both know that Mozambique government has rejected Rio's barging proposal for coal
Aug 2017: Rio gives a bumper payout for investors, which includes a record interim dividend of 110 US cents per share, equal to $2bn.
Oct 2017: SEC fraud charge re Mozambique
2016: Two executives sacked from board over Guinea bribery case: Alan Davies & Debra Valentine
2017: Two executives resign from Rio board over fraud allegations in previous roles: John Varley (Barclays) & Anne Lauvergeon (Areva)
Nov 2012: CFO tells [whistleblower] that he will raise the 'significant valuation challenges' re Mozambique at next Audit Committee (he doesn't)
Jan 2013: Tom Albanese (CEO) & Doug Ritchie (Chief Strategy Officer) step down 'by mutual agreement'
2011: Mozambique coal acquisition ($3.9bn)
2014: Rio sells Mozambique asset for $50m
July 2012: CFO Guy Elliot announces intention to retire next year; replaced by Chris Lynch in April 2013
Periods
CEO: Tom Albanese (2007–2013)
Chair: Jan du Plessis (2008-2018)
CFO: Chris Lynch (2013-retiring Sept 2018)
CEO: Sam Walsh (2013-2016)
CEO: J-S Jacques (2016-ongoing)
CFO: Guy Elliot (2002-2013)
