Business
Rio Tinto investors revolt against ex-CEO pay after cave blast crisis – Sydney Morning Herald
Rio Tinto investors have opposed a lucrative exit package given to the miner’s ex-CEO despite the blasting of the Juukan Gorge occurring under his watch.
However, Sam Laidlaw, the chair of Rios remuneration committee, on Thursday defended the executives payouts, saying the board had not been in a position to legally terminate the three former executives and their outstanding remuneration.
The penalties applied to the responsible executives were, in the best view of the board, the most that could durably be applied and legally defended in light of the extent of the executives ultimately accountability for Juukan Gorge, Mr Laidlaw said.
Although Rios…
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