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Sam Walsh to lead Rio Tinto after Tom Albanese steps down as chief executive

Staff writer |
London, United Kingdom - January 17, 2013, London, United Kingdom - Rio Tinto announces that Tom Albanese has stepped down as chief executive by mutual agreement with the Rio Tinto board, and Iron Ore chief executive Sam Walsh has been appointed as his successor, effective today.

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Mr. Albanese has been the Chief Executive Officer of Rio Tinto Ltd. and Rio Tinto Plc since May 1, 2007. Mr. Albanese serves as the Chief Executive of Rio Tinto Group and served as its Head of Exploration since 2004. He served as the Chief Executive of Industrial Minerals Group at Rio Tinto Ltd since November 2000 and also served as Chief Executive of Industrial Minerals group at Rio Tinto Ltd from 2000 to April 2005. He served as the Chief Executive of Rio Tinto Aluminium Limited.

Mr. Albanese served as the Chief Executive of Copper Group at Rio Tinto Ltd., Rio Tinto Group and Rio Tinto PLC from 2004 to July 1, 2006. He served as the Head of Exploration at Rio Tinto PLC from June 2004 to July 1, 2006 and Rio Tinto Ltd., since June 2004. He served as the Director of Group Resources at Rio Tinto Ltd from July 1, 2006. Mr. Albanese served as the Managing Director of North Limited until 2000. He served as the Vice President of Engineering and Technical Services at Kennecott Utah Copper in the United States.

Mr. Albanese joined Rio Tinto in 1993. He held a number of positions with Nerco. Mr. Albanese served as a General Manager of Greens Creek mine in Alaska until 1993. He served as a Group Exploration Executive of Rio Tinto since 1995. He has been an Executive Director of Rio Tinto PLC and Rio Tinto Ltd. since March 7, 2006. Mr. Albanese has been a Director of Group Resources at Rio Tinto PLC since July 1, 2006. He served as a Non-Executive Director of Palabora Mining Co. Ltd. from September 1, 2004 to June 30, 2006.

Mr. Albanese served as a Director of Ivanhoe Mines Ltd. from November 10, 2006 to May 11, 2007. Mr. Albanese holds a Bachelor's Degree in Mineral Economics and a Master's Degree in Mining Engineering from the University of Alaska in Fairbanks.

Mr. Walsh joined Rio Tinto in 1991 and was appointed chief executive of Rio Tinto's extensive Iron Ore group in 2004, accountable for operations and projects in Australia, Canada and India, as well as Rio Tinto Marine. In June 2009 he was appointed as an executive director to the boards of Rio Tinto plc and Rio Tinto Limited, and in November 2009, chief executive of Rio Tinto Australia.

Doug Ritchie, who led the acquisition and integration of the Mozambique coal assets in his previous role as Energy chief executive, has also stepped down by mutual agreement.

Mr. Ritchie was appointed group executive Strategy in September 2012. He has been with the Group since 1986 when he joined CRA as corporate counsel. Since then he has held a number of roles in various Rio Tinto businesses and corporate functions, including Exploration, Project Development and the Energy, Aluminium and Diamonds & Minerals product groups.

Mr. Ritchie's previous roles have included head of Business Evaluation, managing director Strategy of Rio Tinto, Dampier Salt, Rio Tinto Coal Australia and Rio Tinto Diamonds. Prior to his current role, he was chief executive of Rio Tinto's Energy group.

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