Rio Tinto trims bonuses of CEO and senior executives following destruction of ancient historic caves

On Monday, in a statement Rio Tinto said it will trim the short-term bonuses of its CEO as well as two other senior executives following a review of the company’s destruction of two historic caves in Australia in May which sat on top of a high grade ore deposit which it planned on mining.

“The review found no single root cause or error that directly resulted in the destruction of the rockshelters. It was the result of a series of decisions, actions and omissions over an extended period of time,” said the company.

In a statement, Rio said it would cut the short-term bonuses of its CEO Jean-Sébastien Jacques, as well as the CEO of Iron Ore Chris Salisbury and that of Simone Niven who heads its corporate relations dept, by around $3.7 million in total.

Jacques’ 2016 long-term incentive plan award, which is scheduled to be given to him in the first half of 2021, would also be trimmed by around 1.3 million (1 million pounds).

In a statement, Rio said, it would provide details on the bonus cuts in its 2020 remuneration report.



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