Rio Tinto (ASX:RIO) share price on watch after naming new CEO

The Rio Tinto Limited (ASX: RIO) share price will be one to watch on Friday after it announced the appointment of its new chief executive after the market close.

What did Rio Tinto announce?

This afternoon the mining giant announced that it has found a replacement for outgoing chief executive, J-S Jacques.

According to the release, the company has appointed its Executive Director and Chief Financial Officer, Jakob Stausholm, as its new leader. He will commence in the role on 1 January 2021.

The company notes that since joining Rio Tinto in 2018, Mr Stausholm has played a leading role in its strong performance. He has maintained strong capital allocation discipline and delivered significant shareholder returns, while at the same…