When Rio Tinto Group decided it had to part with Chief Executive Officer Tom Albanese, the second-largest mining company turned to Sam Walsh, … The figure included salary, a cash bonus, shares and other benefits. "[4], Walsh attended Brighton Grammar School and Taylor's College in Melbourne. Senator Entsch did not rule out calling additional Rio executives and staff to give evidence. [8], On 27 March 2014, Walsh was awarded the Honorary Degree of Doctor of Commerce at the graduation ceremony of The University of Western Australia. But it is probably time for a new and younger man to come in. Rio Tinto’s (LON:RIO) chief executive Sam Walsh has once again flushed out rumours of a mega-merger with rival miner Glencore (LON:GLEN), telling … [16], As a member of the B20, the business arm of the G20, Walsh regarded political stability worldwide as one of the issues the B20 team promoted. [6] He was also president of the Western Australia branch of Scouts Australia. Mr Jacques replaced Mr Walsh as chief executive after he left Rio in 2016. [4] However, in March 2016 Walsh announced he was retiring on 1 July 2016. Sam Walsh, chief executive of mining giant Rio Tinto, takes part in a summit dialogue at the APEC CEO Summit at the Asia-Pacific Economic Cooperation summit at the China National Convention Centre on... Get premium, high resolution news photos at Getty Images I think Sam has been a breath of fresh air at Rio, he's cleaned up a lot of mistakes they've made. He left Rio iron ore in mid-2013 to work in the company's technology arm. The highlight of the evening for myself was the keynote address on lean mining from Sam Walsh AO, Executive Director of Rio Tinto. He subsequently held a number of management positions within Rio Tinto, including chief executive of the Aluminium group 2001-2004, and chief executive of the Iron Ore group 2004-2013. Sam Walsh called on lessons he learned as a boy to bring financial discipline back to the mining giant Rio Tinto. During 2004-2009, he oversaw the rapid expansion of the Iron Ore group. Sam Walsh said: “I have been seriously fortunate to lead one of the world’s best companies. He was handed a very difficult job but he had a reputation for getting things done. In his first year at the helm, Walsh took the company from a US$3 billion loss to a US$3.7 billion profit. [9], Rio Tinto Chairman Jan du Plessis confirmed on 23 October 2014, the company had retained Walsh for the longer term and Walsh would continue as CEO of Rio Tinto beyond the end of 2015. In March, Rio said there would be no more deferrals and the incentive plan awards were payable to Mr Walsh after "completion of an independent confidential and binding dispute resolution process". His most recent full-time role was chief executive of global mining giant Rio Tinto, based in London, and prior to that he was Rio Tinto chief executive iron ore and Australia, based in Perth. Originally, he was given a three-year contract. [3], "Rio Tinto chief Sam Walsh to retire after 25 years with mining company", "Sam Walsh AO Chief executive, Rio Tinto", "Sam Walsh - the personal journey of a captain of industry, ABC 720, updated 31 July 2014". [6], In 2010, Walsh was appointed an Officer in the General Division of the Order of Australia. The deal was announced at the Asia-Pacific leaders meeting in Beijing. Help using this website - Accessibility statement, The inquiry was moved to seek evidence from Mr Walsh after he indicated to. Perth-based Mr Walsh recalls issuing the no-mining instructions shortly after Rio was granted permission to mine the gorge under section 18 of Western Australia’s Aboriginal Heritage Act. [16], According to Walsh, Rio Tinto reduced carbon emissions during the previous five years by 25%. [3], Sam Walsh was born 1949 and he grew up in the Melbourne seaside suburb of Brighton. Former Rio Tinto chief executive officer Sam Walsh has been appointed chairman of Gold Corporation, operator of The Perth Mint. He said he would cut exploration and development costs by $750 million and he cut them by $1bn. M. C. Walsh AO, Chief Executive Officer of Iron Ore, Chief Executive of Australia, Executive Director and Director of Rio Tinto Plc, Rio Tinto Ltd, Bloomberg Businessweek", "Rio Tinto's Sam Walsh scores $9m after pay increase in first year, by Cecilia Jamasmie, Mining.com, updated 14 March 2014", "Rio Tinto chief awarded honorary doctorate". [8] In return, the company reported Walsh exceeded expectations. Bitcoin resets lower. During Walsh's term as CEO the Juukan Gorge was not disturbed. Mr Walsh said on Tuesday that it was not productive for the inquiry to focus on events from seven years ago. [15], Sam Walsh appeared on ABC 7.30 Report with presenter Leigh Sales ahead of the G20 Leaders Summit in Brisbane, November 2014. Based in the Australian city of Perth, he oversaw company's mining operations and expansions in Pilbara, Western Australia. Mr Walsh said last week that he issued instructions post the 2013 approval not to mine the gorge for iron ore, but it was missing from the Rio submission even though it covers events at that time. After graduating in commerce from Melbourne University, Walsh began his career as a trainee buyer at General Motors. Sam Walsh steers Rio Tinto back on track Sam Walsh’s remarkable turnaround of a billion-dollar loss at one of the world’s largest mining companies has marked him out as one of last year’s most impressive CEOs, writes Sandra Kilhof

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