Rio Tinto appoints former GE executive Jerome Pecresse as new aluminium business CEO

Rio Tinto appoints former GE executive Jerome Pecresse as new aluminium business CEO

London-based mining company Rio Tinto (LON: RIO ) PLC (LSE:NYSE: RIO ) announced on Tuesday the appointment of Jerome Pecresse, former CEO of General Electric (NYSE: GE ) Co's Renewable Energy, as the new chief executive of its aluminium business.

Pecresse, a French citizen with over 30 years of business experience, will officially take his position on October 23. He replaces Ivan Vella, who announced his departure in June for a new role outside the company after serving Rio for two decades.

Pecresse's hiring follows a successful tenure at GE Renewable Energy, a position he assumed after GE's acquisition of France's Alstom (EPA: ALSO ) SA's energy activities in 2015. Prior to the acquisition, Pecresse led Alstom's Renewable Energy business.

In a statement about the appointment, Rio Tinto Chief Executive Jakob Stausholm said, "Jerome brings a wealth of experience across renewable energy, mining, business development and strategy, ideal for shaping our industry leading aluminium business for a low carbon future."

Pecresse expressed his enthusiasm about joining Rio Tinto and the opportunity to continue building a stronger and more sustainable global aluminium business. "We have a key role to play in delivering on Rio Tinto’s strategy and supplying materials needed in a low carbon world," he said.

Notably, Rio Tinto shares were trading up 0.6% at 5,030p on Tuesday morning following the announcement. Over the past 12 months, the company's stock price has risen by 5.7%.

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