Rio Tinto Plc Extends Tenure Of CEO & CFO - Quick Facts

(RTTNews) - Rio Tinto plc (RTPPF.PK, RIO.L, RIO, RTNTF.PK) announced that its board has extended the tenure of chief executive Sam Walsh and chief financial officer Chris Lynch. Walsh and Lynch will transfer to open-ended contracts after Rio Tinto's annual general meetings in 2015. They will both move to a rolling contract with no end date and a 12-month notice period. Both Walsh's and Lynch's remuneration will remain unchanged.

Rio Tinto chairman Jan du Plessis said "For quite some time, Sam has made no secret of the fact that he loves his job and would like to continue well beyond next year. Given his performance and his enthusiasm to continue in the role, the decision to extend his tenure has been an easy one for the board. In addition, over the past 18 months, Chris has played a crucial role working with Sam and I am therefore pleased that we have agreed with both of them to replace their fixed term retirement dates with long-term, open-ended commitments to the company."