Rio Tinto’s Tom Albanese steps down

Jan 17, 2013 | 09:48 AM | Shivani Singh

Tags  Rio Tinto, Tom Albanese, aluminum, write-down, Doug Ritchie, Sam Walsh, Jan du Plessis, Shivani Singh

SINGAPORE — Rio Tinto Plc chief executive officer Tom Albanese has stepped down after the miner announced it faced a $14-billion write-down, including up to $11 billion against its troubled aluminum business.

Sam Walsh, chief executive of Rio Tinto’s iron ore and Australian operations, has been named as Albanese’s successor, effective Jan. 17, the company said.

Energy chief Doug Ritchie has also stepped down, the miner said.

"While I leave the business in good shape in many respects, I fully recognize that accountability for all aspects of the business rests with the (chief executive officer)," Albanese said in a statement.....

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