Rio Tinto has announced the appointment of Katie Jackson, a former Shell executive, as the new head of its copper division. Jackson, currently president of National Grid Ventures, will join Rio Tinto on September 1. She will succeed Bold Baatar, who will transition to the role of chief commercial officer later this year.
Jackson brings a wealth of international experience in the energy sector to her new role. She began her career at Shell as a drilling engineer and held various operational and commercial positions across Asia, Europe, Eastern Europe, the Middle East, and the United States. Her extensive background in the energy industry positions her well to lead Rio Tinto’s copper division.
At BG Group, Jackson served as executive vice president for global business development and strategy before rejoining Shell in a senior role. There, she managed acquisitions, divestments, and new business development across Shell’s diverse portfolio. Her diverse skill set and experience in strategic development are expected to play a crucial role in shaping Rio Tinto’s copper business.
Rio Tinto CEO Jakob Stausholm emphasized the significance of Jackson’s appointment. “As we continue the ramp-up of Oyu Tolgoi to become one of the world’s largest copper suppliers, we are also looking to the future with new opportunities across the world,” Stausholm said in a statement. He expressed confidence that Jackson’s leadership would be instrumental in driving the company’s copper division towards a successful future.
Jackson herself described the timing of her appointment as exciting, given copper’s central role in delivering a low-carbon future. The metal is vital for various green technologies, including electric vehicles and renewable energy systems. Jackson’s leadership is expected to bolster Rio Tinto’s efforts to meet the growing global demand for copper in a sustainable manner.
Bold Baatar, the current copper chief, is seen by many investors and analysts as a strong contender to succeed Stausholm as CEO. Baatar’s transition to chief commercial officer is viewed as a significant step in his career trajectory within the company. Since Stausholm took over as CEO in January 2021, he has focused on regaining public and investor trust following the 2020 destruction of sacred Aboriginal rock shelters by Rio Tinto.
Richard Hatch, an analyst at Berenberg, noted that Baatar’s promotion could pave the way for him to become CEO in the future. However, Hatch also indicated that he does not expect this transition to happen imminently. Other potential candidates for the top position include Simon Trott, who leads Rio Tinto’s iron ore business, and Peter Cunningham, the company’s chief financial officer.
Jackson’s appointment comes at a significant time for Rio Tinto’s copper division. The company is ramping up production at the Oyu Tolgoi mine in Mongolia, which is set to become one of the largest copper suppliers globally. This expansion is important to Rio Tinto’s strategy to capitalize on the increasing demand for copper driven by the global shift towards renewable energy and electric vehicles.
