Key Takeaways Rio Tinto announced Thursday that CEO Jakob Stausholm would be stepping down later this year once a successor is appointed.The mining and mineral company said a "rigorous selection process" is under way.

Rio Tinto CEO Jakob Stausholm, who in his 4-1/2 year tenure oversaw a cultural overhaul at a firm strongly criticised for workplace toxicity, is to step down later this year, the miner said in a surprise to investors on Thursday.

Rio Tinto chief executive Jakob Stausholm will step down later this year, and the search for a successor is under way, the FTSE 100 mining group said on Thursday. Rio did not give a reason for the unexpected exit of Stausholm, who has led the miner since 2021.