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“Instead, it was more appropriate that the three executives’ employment be terminated by mutual agreement (acknowledging the potential adverse effect that this may have on their longer-term careers).” Laidlaw said under Rio’s new pay arrangements, compliance with policy, environmental, social and governance measures would make up 15% of short-term bonuses. This will be achieved by reducing the proportion of bonuses linked to individual performance from 30% to 15%. “We have also importantly introduced a specific ability to apply malus and clawback if in the future there is a material...

Last modified on Thu 6 May 2021 16.04 EDT Rio Tinto’s shareholders have rebelled against the board’s decision to pay its outgoing chief executive his biggest ever pay packet despite overseeing the destruction of the sacred 46,000-year-old rock shelters at Juukan Gorge in Western Australia. Shareholders voted 61% against the miner’s remuneration policy, which handed a £7.2m pay packet to the disgraced former chief executive Jean-Sébastien Jacques for last year, a 20% rise on his total pay the year before, despite the Juukan Gorge scandal. Jean-Sébastien Jacques. Photogr...

Rio Tinto shareholders rebel against ex-chief executive’s £7.2m bonus Jillian Ambrose Rio Tinto’s shareholders have rebelled against the board’s decision to pay its outgoing chief executive his biggest ever pay packet despite overseeing the destruction of the sacred 46,000-year-old rock shelters at Juukan Gorge in Western Australia. Shareholders dealt the Anglo-Australian company a bloody nose after 61% voted against the miner’s remuneration policy, which handed a £7.2m pay packet to the disgraced former chief executive Jean-Sébastien Jacques for last year, a 20% ri...

Indigenous groups’ high regard for the former CSIRO boss has convinced AustralianSuper to back her re-election to the board of Rio Tinto.

The establishment investor believes Rio Tinto will be better for the executive and boardroom clean out that followed destruction of Juukan Gorge.